The nominee to lead the Fed is an AI optimist who counts tech titans Peter Thiel and Marc Andreessen among his friends.
Luxshare Precision Industry, a major Apple supplier, saw its shares end lower on their Hong Kong trading debut Thursday, despite raising $3.09 billion in its IPO, the largest this year. The stock closed down 1.55% after opening lower.
South Korea's Kospi stock index has fallen into bear market territory, down over 20% from its record high, due to global investor skepticism about AI plays and extreme market concentration in chipmakers Samsung Electronics and SK Hynix.
AstraZeneca's stock dropped nearly 9% after its experimental heart disease drug, Wainua, failed to meet its primary target in a late-stage clinical trial. The drug, intended for transthyretin-mediated amyloid cardiomyopathy (ATTR-CM), did not significantly reduce deaths or heart emergencies compared to a placebo.
Luxshare Precision Industry's shares dropped over 5% in their Hong Kong trading debut Thursday, following its $3.09 billion IPO, the largest this year. The Apple supplier, already listed in Shenzhen, priced shares at HK$63.28, with the stock trading at HK$60 early on.
Temasek Global Investments president Nagi Hamiyeh stated crypto investment remains off-limits due to regulatory uncertainty and the company's substantial loss from FTX. The firm is increasing its AI exposure and investing in European luxury and industrials.
Oil prices surged Thursday following new U.S. military strikes on Iran, escalating fears of supply disruptions in the Middle East. Brent crude and WTI futures advanced, with analysts citing the Strait of Hormuz's critical role in global energy flows.
