MARKETS: The fall deepens in Asian stock markets

The fall in stocks from record high levels continued on Wednesday in Asia.

South Korea’s Kospi index, which is considered an important measure of AI-related investments, was down 1.8 percent at the time of the review.

The world’s largest manufacturer of memory chips Samsung Electronicsin the stock went down when the company’s union decided to go on strike. Prime Minister of South Korea review earlierthat the strike could cost up to a trillion won, or about $668 million, for each day Samsung’s chip factory is closed.

At the time of the review, Japan’s Nikkei was also down 1.7 percent and the broader Topix was down 1.8 percent.

In mainland China, the CSI 300 was down 0.3 percent. Hong Kong’s Hang Seng was down 0.6 percent.

Futures indicate that the decline will also spread to Europe and the United States.

The price of Brent crude oil remained above 111 dollars per barrel, as there were no signs of an easing of the conflict in Iran. This has fueled inflationary concerns and pressured sovereign bonds worldwide.

Attention is focused today especially on the artificial intelligence chip company that will announce its results after the stock market closes Nvidianas investors ponder whether the AI-driven rally has gone too far too fast.

Granite Bay Wealth Managementin Paul Stanley told Bloomberg that the chip giant’s earnings report takes on particular significance at a time when markets are once again worried about rising interest rates and possible rate hikes.

“Investors need reassurance that the AI ​​story is still going strong and that the company is generating enough revenue growth to support its high valuations,” he said.

“We believe Nvidia will report financial results that justify its valuation. That’s exactly what the stock market is looking for right now.”

At the time of review, one euro equaled 1.16 dollars, 184 yen and 0.87 pounds. The dollar was 159 yen and the pound was 1.34 dollars.