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South Korean stocks suffered their biggest selloff in months on Tuesday, with the Kospi Index falling as much as 4.6% as investors rushed to lock in profits from high-flying technology shares. The decline was led by semiconductor giants Samsung Electronics and SK Hynix, both of which dropped more than 5%, while foreign investors sold over 2 trillion won (US$1.3 billion) worth of Korean equities during the morning session. What Triggered the Selloff? Several factors appear to be driving the correction: Profit-taking after a powerful rally Valuation concerns in AI-related stocks Foreign investor selling Growing focus on Micron’s upcoming earnings results The Kospi had recently surged above the 9,000 level as investors piled into AI beneficiaries and largely ignored geopolitical concerns. However, after weeks of gains, the market had become increasingly overbought. Why Micron Matters Investors are now turning their attention to Micron Technology's earnings report later this week. The ...

Chairman  Chey Tae-won  of SK Group pledged to ramp up production of AI memory chips as global demand from data centres continues to surge. The commitment underscores how critical  high-bandwidth memory (HBM)  has become in the artificial intelligence supply chain. “Monster Chip” Driving Record Profits Chey described HBM as a  “monster chip”  generating enormous profits for  SK Hynix . Key developments: SK Hynix shares have  more than quadrupled  over the past year 2026 capital expenditure will rise significantly 2026 HBM production is already  fully sold out HBM chips are essential for AI accelerators designed by firms like  Nvidia Corp , enabling large-scale model training and inference. AI Spending Wave Fuels Chip Shortage US tech giants including  Microsoft Corp  and  Meta Platforms Inc  are collectively spending about  US$650 billion  this year on AI infrastructure. This spending spree has: Trigger...

Singapore attracted  higher investment commitments in 2025  despite ongoing geopolitical and economic uncertainty, with  China emerging as the largest source  of new fixed asset commitments for the first time, according to data from the  Singapore Economic Development Board  (EDB). Fixed asset investment commitments rose  5.2% year-on-year to S$14.2 billion , while total business expenditure increased  6% to S$8.9 billion . The data underscores Singapore’s continued appeal as a regional hub amid rising tensions between  China  and the  United States . China accounted for  20.6% of total fixed asset commitments , surpassing the US for the first time. In contrast, the US share fell sharply to  17.3% , from  55.5% in 2024 , while China’s share surged from just  2.5% a year earlier . China also made up  50.7% of total business expenditure , up from  15% in 2024 , reflecting the scale of Chinese corporate ac...

Summary UBS expects the  ringgit to strengthen towards 3.80 against the US dollar by December , potentially reaching its strongest level in more than a decade. The outlook is supported by  strong capital inflows, AI-driven investments, a resilient trade surplus, and narrowing US–Malaysia interest rate differentials . Key Points Ringgit target: 3.80 per US dollar by December , last seen in 2015 Best-performing major Asian currency in early 2026 , up over  3% YTD More than 10% gain in 2025 , extending its recovery trend What’s Driving the Ringgit Higher Sustained foreign inflows  from multi-year investments into  data centres and the digital economy Global tech and AI demand  expected to remain strong into 2026, supporting Malaysia’s  trade surplus Narrowing interest rate gap  as the  US is expected to cut rates , while  Bank Negara Malaysia is likely to stay on hold This environment encourages  USD-to-ringgit conversions by corporate...

Quick Summary Nvidia has halted talks to invest up to US$100 billion in OpenAI , according to WSJ Internal concerns at Nvidia reportedly stalled the deal Partnership may still continue at a  much smaller scale Raises fresh questions about  AI investment sustainability What Happened NVIDIA Corp  has  stopped negotiations  on a planned  US$100 billion investment  in  OpenAI , exposing a potential rift between two of the most influential players in artificial intelligence, the  Wall Street Journal  reported. The talks reportedly  broke down after internal concerns emerged within Nvidia , prompting both sides to rethink the structure of their partnership. From Mega-Deal to Scaled-Back Option The original plan, announced in September via a  letter of intent , envisioned: US$100B investment Construction of  new AI data centres Up to  10 gigawatts of computing power  — roughly equal to  New York City’s peak electri...

Asian stocks extended their rally on Tuesday as the global  artificial intelligence (AI) boom  continued to pull money into technology shares, while gold surged to fresh record highs on expectations of further U.S. rate cuts. Wall Street once again led the charge after  Nvidia unveiled plans to invest up to US$100 billion in OpenAI , with its first data-center hardware set for delivery in 2026. The announcement sparked another wave of optimism across the tech sector, with giants such as Oracle, Apple, Tesla, and Nvidia itself fueling record highs. Market watchers noted that momentum funds and option traders are piling in, reinforcing the rally’s self-fulfilling nature. At the same time, investors seeking to hedge risk have flocked to gold. The precious metal hit an all-time peak of  US$3,755.47 per ounce , nearly 9% higher so far this month. Across Asia, chip-related sectors are enjoying the spillover effect. South Korea’s market gained 0.2%, now up almost 9% in Sept...

Analysts Expect Another Beat Microsoft (MSFT) is set to report its fourth-quarter results Wednesday after market close, with Wall Street expecting  $73.8 billion in revenue  and  earnings per share (EPS) of $3.37 , both higher than last year’s results. The tech giant has beaten revenue estimates for  nine straight quarters  and EPS estimates for  11 consecutive quarters . AI and Cloud Driving Growth Investors will watch closely how Microsoft is monetizing its  AI investments  and expanding its  cloud services , especially Azure, which saw  21% YoY growth  in Q3. CEO Satya Nadella has emphasized AI and cloud as “essential inputs for every business to expand output, reduce costs, and accelerate growth.” Wedbush’s Dan Ives maintained an  Outperform rating  and a  $600 price target , calling Microsoft a “core AI winner.” He believes the $600 target could be conservative and predicts Microsoft could reach a  $5 trilli...

Despite finishing the week slightly in the red, the  S&P 500  may be primed for further upside — all thanks to the impending  earnings season . This Week in Markets: S&P 500:  -0.33%, closing at 6259.75 — still just off all-time highs Nasdaq Composite:  +0.22%, powered by NVIDIA’s record  $4 trillion market cap Dow Jones Industrial Average:  -0.63% These declines are modest, especially considering the  escalating trade tensions  — with  tariff threats  of up to 50% on Brazil and 35% on Canada — and continued political pressure on  Fed Chair Jerome Powell . Remarkably, the S&P 500 remains  up 26%  from its April low and  +6.4% YTD . Valuation Watch: The index now trades at  22.4x forward 12-month earnings  — its  highest multiple in 3 years . But rather than being a red flag, history shows these levels tend to precede gains, not losses. In the past five years, whenever the S&P traded...

Investors in the US are paying a significant premium for  Taiwan Semiconductor Manufacturing Co. (TSMC)  shares, highlighting the persistent appeal of stocks tied to the  artificial intelligence (AI) boom . At the close of last Friday, TSMC’s  American Depositary Receipts (ADRs)  traded at a  24.6% premium  compared to its Taipei-listed shares. This marks the highest premium since October 17 and exceeds the quarterly average of 19%, according to  Bloomberg  data. What’s Driving the Premium? Index Inclusion and Accessibility : TSMC’s ADRs are included in prominent indices such as the  Philadelphia Semiconductor Index  and exchange-traded funds (ETFs) like the  VanEck Semiconductor ETF  and  iShares Semiconductor ETF . Funds tracking these indices are required to hold US-listed securities, creating sustained demand for ADRs. ADRs also provide easier access for global investors compared to locally-listed shares. Market D...

  BlackRock Inc and Microsoft Corp are joining forces to launch one of the largest efforts yet to finance the development of data warehouses and energy infrastructure needed to support the rapid growth of artificial intelligence (AI) . The two companies, along with the United Arab Emirates' MGX investment vehicle , aim to raise $30 billion (RM127.85 billion) in private equity capital over time, which could be leveraged up to $100 billion in potential investments, according to an announcement on Tuesday. "The need to build out data centres globally is a multi-trillion-dollar financing opportunity," said BlackRock CEO Larry Fink in an interview. He noted that the Global AI Infrastructure Investment Partnership has been months in the making, describing it as "a great example of the capital markets building out infrastructure and opportunities for new technologies." Focus on US and Partner Countries The infrastructure investments, including energy projects, ...