Asia-Pacific markets track Wall Street declines as rotation out of tech continues
Softbank Group Corp was among the top losers in the benchmark Nikkei 225, falling as much as 7.25%.
TL;DR
- Asia-Pacific markets fell sharply, with Japan's Nikkei 225 seeing the largest drop.
- AI-related stocks, including Nvidia, Broadcom, and Advanced Micro Devices, declined due to a report on Oracle's data center funding.
- The Bank of Japan is expected to raise interest rates for the first time in 30 years.
- Australian energy firm Woodside Energy saw its shares fall after announcing a CEO change.
- Chinese chipmaker MetaX Integrated Circuits slid after a dramatic market debut.
- US markets also closed lower overnight, and traders await the November consumer price index reading.
- Economists anticipate headline inflation to grow at a 3.1% year-over-year pace in the US.