Afp Business Asia

New Pokemon titles on horizon as 30th anniversary approaches

Pikachu and friends are set to return to consoles in two new games next year, the Pokemon Company said Friday, as it celebrated 30 years of the monster-collecting franchise.Set for release on Nintendo’s latest Switch 2 console, “Pokemon Winds” and “Pokemon Waves” will see the fan-favourite critters return and new beasties emerge as players explore a colourful, tropical world stretching down to the ocean floor.The Pokemon Company — jointly owned by Nintendo, Japanese studio Game Freak and the Creatures company — controls the brand for the franchise with more than 1,000 “pocket monsters” to date.Longtime followers of the series will also be able to play the original games released for the portable Game Boy in 1996 on Switch, Nintendo said.The next volley of Pokemon games was revealed just before the release of a new spinoff, “Pokopia”, for Switch 2 on March 5.Pokemon rapidly grew into a global phenomenon following the first titles’ release on Game Boy.Titles available on multiple consoles and mobile phones have sold more than 500 million copies over the franchise’s 30-year history, according to figures from the Pokemon Company and Nintendo.Originally inspired by traditional summer insect hunts in Japan, gameplay usually involves capturing and training fantastical “pocket monsters” resembling anything from mice to dragons, before sending them into battle against one another.Beyond consoles, Pokemon has also spawned films, an animated series and the augmented reality mobile game “Pokemon Go”.In 2024, the brand generated $12 billion in revenues, according to specialist data firm License Global, more than toy giant Mattel.

India logs 7.8 percent quarterly growth after data overhaul

India’s economy grew at a faster pace than expected in the last quarter of 2025 driven by solid consumer spending, data showed Friday, using a new framework that calculates economic output more accurately.Gross domestic product rose 7.8 percent in the October-to-December quarter from the same period a year earlier, according to data from the statistics ministry.While growth slipped from the 8.4 percent recorded in the previous quarter, it edged past market expectations of 7.6 percent.Aditi Nayar of ratings agency ICRA said the GDP growth number was “healthier than what we had expected”.”The moderation was expectedly driven by the agriculture and the non-manufacturing industrial sectors,” she said in a note.Friday’s reading re-affirmed India as the world’s fastest-growing major economy and is a shot in the arm for policymakers who have struggled with steep US tariffs, a falling rupee and muted consumption for most of 2025.Last year, the government claimed India had surpassed Japan to become the world’s fourth-largest economy.However, the data for 2025 shows India’s nominal GDP in dollar terms was still under the $4 trillion mark compared to Japan’s $4.4 trillion — indicating that while it was close, the crossover has yet to happen.Based on current numbers, India will cross the $4 trillion mark comfortably in 2026-27, India’s chief economic advisor V. Anantha Nageswaran said.”The relative ranking will also depend on other countries’ growth rates and exchange rates as well,” he said.Faced with a dimming economic outlook, Prime Minister Narendra Modi has sought to bolster the economy by slashing income and consumption taxes which have helped rebound consumer spending in recent quarters.- Data overhaul -New Delhi also managed to secure a trade deal with Washington in early February, which boosted sentiment around the rupee but came just weeks before the US Supreme Court struck down President Donald Trump’s sweeping tariffs.The GDP numbers are the first data released under a revised framework that New Delhi said better captures “the realities of a fast-changing economy”.The data overhaul has seen India shift its GDP base year to 2022-23 from 2011-12 and adopt more granular price deflation to help quell concerns that earlier methods relied too heavily on the wholesale price index.Growth calculations are now also based on sources of data including India’s online tax and vehicle registration databases.The government said the new data aligns official numbers “more closely with the structure and dynamics of today’s economy”.The data revamp also sees New Delhi raising its growth projections for the current financial year that ends in March.The Indian economy is now projected to grow 7.6 percent for the full fiscal year, up from a forecast of 7.4 percent published last month, a press release from the statistics ministry said.The latest figures bring Modi closer to his goal of transforming India into a developed nation by 2047 — a target that most analysts say would require the economy to record about 8 percent growth every year until then.Analysts say New Delhi’s growth trajectory reduces the likelihood of any rate cuts from India’s central bank.”The important point from a monetary policy perspective is that the new data confirm that the economy is performing strongly,” Shilan Shah of Capital Economics said in a note.”They don’t change our view that the Reserve Bank’s easing cycle has come to an end.”

Stocks slide, oil jumps tracking AI and Iran

US and European markets mostly fell on Friday with tech stocks suffering, while oil prices jumped as a standoff between Iran and the United States deepened.Wall Street’s main indices fell at the start of trading, with tech stocks taking a hit.An announcement by financial services firm Block that it would slash its workforce by nearly half and rely heavily on AI to operate more efficiently sparked fresh concerns about the disruptive nature of the technology.”Block won’t be the last company making this type of announcement, which is what has the market spooked this morning about growth prospects,” said Briefing.com analyst Patrick O’Hare. Stock markets soared to fresh heights last year thanks to investors piling into stocks of tech firms which are piling massive amounts of money into developing and deploying AI.But the march higher hasn’t been steady in recent months as concerns about AI disrupting industries occasionally triggers sudden drops in markets.Investors have also been occasionally seized by concerns that the share prices of tech giants have risen too high and that AI may not be profitable.Expectations of stellar performance have also worked against tech giants.Nvidia’s share price slumped 5.5 percent Thursday despite the chip giant announcing that its quarterly profits more than doubled to $43 billion.It fell more than two percent as trading got under on Friday.That was partly due to investors already having priced in an increase ahead of the announcement, but “there are also concerns related to stretched valuations and Nvidia’s dependence on capital spending by large technology companies investing in AI infrastructure,” said City Index analyst Julian Pineda.Trade Nation analyst David Morrison also pointed to investors shifting money from tech to other sectors. He pointed out that the S&P 500 is heading towards a 0.4 percent loss for the month of February, while the Dow is set for a 1.2 percent gain. “This divergence provides further evidence of a clear rotation away from high-growth AI-linked names into more traditional cyclical sectors, even as broader macro risks tied to trade policy and geopolitical tensions linger in the background,” he said.Elsewhere on Friday, oil prices jumped more than three percent as Iran said that in order to reach a deal, the United States will have to drop its “excessive demands”, tempering the optimism expressed after talks seen as a last-ditch bid to avert war.The Oman-mediated talks follow repeated threats from President Donald Trump to strike Iran, and with the United States conducting its biggest military build-up in the region in decades.Trump on February 19 gave Iran 15 days to reach a deal, and while Iran has insisted the discussions focus solely on its nuclear programme, the US wants Tehran’s missile programme, its ballistic missile capabilities, and its support for militant groups curtailed.The Wall Street Journal reported on Thursday that Trump’s negotiating team would demand that Iran dismantle its three main nuclear sites and hand over all its remaining enriched uranium to the United States.”For oil prices, we have seen significant fluctuations as traders weigh up the likeliness of a conflict,” said Joshua Mahony, chief market analyst at Scope Markets.- Key figures at around 1430 GMT -New York – Dow: DOWN 1.0 percent at 49,019.09 pointsNew York – S&P 500: DOWN 0.9 percent at 6,848.07New York – Nasdaq Composite: DOWN 1.2 percent at 22,597.59London – FTSE 100: UP 0.5 percent at 10,904.61 Paris – CAC 40: DOWN 0.4 percent at 8,586.68Frankfurt – DAX: DOWN 0.1 percent at 25,257.49Tokyo – Nikkei 225: UP 0.2 percent at 58,850.27 (close)Hong Kong – Hang Seng Index: UP 1.0 percent at 26,630.54 (close)Shanghai – Composite: UP 0.4 percent at 4,162.88 (close)Euro/dollar: UP at $1.1801 from $1.1799 on ThursdayPound/dollar: DOWN at $1.3464 from $1.3489Dollar/yen: DOWN at 156.07 yen from 156.11 yenEuro/pound: UP at 87.66 pence from 87.47 penceBrent North Sea Crude: UP 3.5 percent at $73.20 per barrelWest Texas Intermediate: UP 3.6 percent at $67.55 per barrelburs-rl/rmb

Stocks mostly rise, oil jumps tracking AI and Iran

Stock markets mostly rose Friday with traders relieved by the tech sector holding firm despite concerns over massive AI investments.Indices across Asia and Europe were mainly in the green despite Wall Street’s Nasdaq losing more than one percent Thursday.”European markets continue to show their resilience, with indices throughout the region continuing to gain ground in the face of US tech-led losses,” noted Joshua Mahony, chief market analyst at Scope Markets.Nvidia’s share price slumped 5.5 percent Thursday despite the chip giant announcing that its quarterly profits more than doubled to $43 billion.”Market expectations were already very elevated and part of the positive results had been priced in,” said City Index analyst Julian Pineda.”There are also concerns related to stretched valuations and Nvidia’s dependence on capital spending by large technology companies investing in AI infrastructure. “If the pace of AI investment moderates due to cost optimisation efforts, it could indirectly affect Nvidia’s growth outlook,” Pineda added.Elsewhere on Friday, oil prices jumped almost two percent as Iran said that in order to reach a deal, the United States will have to drop its “excessive demands”, tempering the optimism expressed after talks seen as a last-ditch bid to avert war.The Oman-mediated talks follow repeated threats from President Donald Trump to strike Iran, and with the United States conducting its biggest military build-up in the region in decades.Trump on February 19 gave Iran 15 days to reach a deal, and while Iran has insisted the discussions focus solely on its nuclear programme, the US wants Tehran’s missile programme and its support for militant groups curtailed.The Wall Street Journal reported on Thursday that Trump’s negotiating team would demand that Iran dismantle its three main nuclear sites and hand over all its remaining enriched uranium to the United States.”For oil prices, we have seen significant fluctuations as traders weigh up the likeliness of a conflict,” said Mahony.- Key figures at around 1100 GMT -London – FTSE 100: UP 0.4 percent at 10,886.02 pointsParis – CAC 40: DOWN 0.2 percent at 8,602.58Frankfurt – DAX: FLAT at 25,292.49Tokyo – Nikkei 225: UP 0.2 percent at 58,850.27 (close)Hong Kong – Hang Seng Index: UP 1.0 percent at 26,630.54 (close)Shanghai – Composite: UP 0.4 percent at 4,162.88 (close)New York – Dow: FLAT at 49,499.20 (close)Euro/dollar: UP at $1.1801 from $1.1799 on ThursdayPound/dollar: DOWN at $1.3474 from $1.3489Dollar/yen: DOWN at 156.00 yen from 156.11 yenEuro/pound: UP at 87.58 pence from 87.47 penceBrent North Sea Crude: UP 1.8 percent at $72.11 per barrelWest Texas Intermediate: UP 1.9 percent at $66.46 per barrel

Most Asian markets rise to cap a strong week of regional tech gains

Markets mostly rose Friday as traders extended their buying at the end of a healthy week in Asia, where tech firms rallied on a reassessment of AI investments.After surging for the past two years on a rush into all things linked to artificial intelligence, Wall Street’s Magnificent Seven tech titans have been slow out of the blocks this year amid concerns about extended valuations and profitability.Worries about the impact of new tools that many warn pose a risk to a range of companies were compounded by a report on Sunday that signified parts of the global economy that could be at risk from the new gadgets, including credit card and food delivery firms.That uncertainty has seen a shift from “downstream” companies that run apps and software to “upstream” firms such as chipmakers, many of which are based in Asia.That was highlighted this week by another Wall Street sell-off, despite Nvidia reporting quarterly profits more than doubled, projecting more strong growth for the coming period.Analysts said the losses showed firms needed to far exceed even elevated forecasts, making it even harder to please investors who have been piling into tech in recent years.”Market expectations were already very elevated and part of the positive results had been priced in,” said City Index’s Julian Pineda.”There are also concerns related to stretched valuations and Nvidia’s dependence on capital spending by large technology companies investing in AI infrastructure. “If the pace of AI investment moderates due to cost optimisation efforts, it could indirectly affect Nvidia’s growth outlook.”Most of Wall Street fell, with the Nasdaq shedding more than one percent.Asia started off mixed but went into the home straight on a broadly positive note, with the Supreme Court’s decision last Friday to slap down many of US President Donald Trump’s tariffs seen largely benefiting regional economies.Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Bangkok and Wellington all advanced.But Seoul sank one percent, having chalked up gains of more than eight percent this week thanks to a surge in market heavyweights Samsung and SK hynix. Manila, Mumbai and Jakarta also slipped.London opened higher, Paris fell and Frankfurt was flat.The yen extended a minor recovery against the dollar after a top Bank of Japan board member again urged officials to continue hiking interest rates.However, the case for a pause was boosted by data showing Tokyo’s inflation — seen as a barometer for the country — cooled last month.The currency came under pressure this week after Prime Minister Sanae Takaichi nominated two academics to the BoJ board who are considered policy doves, days after reports said she had told its boss Kazuo Ueda of her concern about tightening further.Oil prices rose as investors kept tabs on Iran nuclear talks between Washington and Tehran.Mediators said the two sides had made “significant progress” in talks Thursday in Switzerland as they look to avert a war in the crude-rich Middle East. Officials agreed to further discussions next week in Austria.The Oman-mediated negotiations follow repeated threats from Trump to strike Tehran, with the US president last Thursday giving it 15 days to reach a deal.- Key figures at around 0815 GMT -Tokyo – Nikkei 225: UP 0.2 percent at 58,850.27 (close)Hong Kong – Hang Seng Index: UP 1.0 percent at 26,630.54 (close)Shanghai – Composite: UP 0.4 percent at 4,162.88 (close)London – FTSE 100: UP 0.2 percent at 10,867.49 Dollar/yen: DOWN at 156.03 yen from 156.11 yen on ThursdayEuro/dollar: UP at $1.1818 from $1.1799Pound/dollar: UP at $1.3493 from $1.3489Euro/pound: UP at 87.59 pence from 87.47 penceWest Texas Intermediate: UP 0.8 percent at $65.75 per barrelBrent North Sea Crude: UP 0.7 percent at $71.22 per barrelNew York – Dow: UP less than 0.1 percent at 49,499.20 (close)

Asian markets fluctuate after healthy week of tech gains

Markets stuttered Friday as traders took their foot off the pedal at the end of a healthy week in Asia, where tech firms rallied on a reassessment of AI investments.After surging for the past two years on a rush into all things linked to artificial intelligence, Wall Street’s Magnificent Seven tech titans have been slow out of the blocks this year amid concerns about extended valuations and profitability.Worries about the impact of new tools that many warn pose a risk to a range of companies were compounded by a report on Sunday that signified parts of the global economy that could be at risk from the new gadgets, including credit card and food delivery firms.That uncertainty has seen a shift from “downstream” companies that run apps and software to “upstream” firms such as chipmakers, many of which are based in Asia.That was highlighted this week by another Wall Street sell-off, despite Nvidia reporting quarterly profits more than doubled, projecting more strong growth for the coming period.Analysts said the losses showed firms needed to far exceed even elevated forecasts, making it even harder to please investors who have been piling into tech in recent years.”Market expectations were already very elevated and part of the positive results had been priced in,” said City Index’s Julian Pineda.”There are also concerns related to stretched valuations and Nvidia’s dependence on capital spending by large technology companies investing in AI infrastructure. “If the pace of AI investment moderates due to cost optimisation efforts, it could indirectly affect Nvidia’s growth outlook.”Most of Wall Street fell, with the Nasdaq shedding more than one percent.Asia was mixed, with the Supreme Court’s decision last Friday to slap down many of US President Donald Trump’s tariffs seen largely benefiting regional economies.Hong Kong, Singapore and Wellington edged up, while Sydney and Shanghai shifted between gains and losses.But Seoul sank more than one percent, having chalked up gains of around 8.5 percent this week thanks to a surge in market heavyweights Samsung and SK hynix. Tokyo, Manila and Jakarta also fell.The yen extended a minor recovery against the dollar after a top Bank of Japan board member again urged officials to continue hiking interest rates.However, the case for a pause was boosted by data showing Tokyo’s inflation — seen as a barometer for the country — cooled last month.The currency came under pressure this week after Prime Minister Sanae Takaichi nominated two academics to the BoJ board who are considered policy doves, days after reports said she had told its boss Kazuo Ueda of her concern about tightening further.Oil prices slipped after mediators said Iran and the United States made “significant progress” in nuclear talks Thursday as they look to avert a war in the crude-rich Middle East. The two sides agreed to further discussions next week in Austria.The Oman-mediated negotiations follow repeated threats from Trump to strike Tehran, with the US president last Thursday giving it 15 days to reach a deal.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 0.4 percent at 58,528.09 (break)Hong Kong – Hang Seng Index: UP 0.2 percent at 26,427.58Shanghai – Composite: FLAT at 4,146.82Dollar/yen: DOWN at 155.85 yen from 156.11 yen on ThursdayEuro/dollar: DOWN at $1.1796 from $1.1799Pound/dollar: DOWN at $1.3484 from $1.3489Euro/pound: UP at 87.49 pence from 87.47 penceWest Texas Intermediate: DOWN 0.3 percent at $65.02 per barrelBrent North Sea Crude: DOWN 0.3 percent at $70.54 per barrelNew York – Dow: UP less than 0.1 percent at 49,499.20 (close)London – FTSE 100: UP 0.4 percent at 10,846.70 (close)

Australian supermarket giant reins in AI assistant claiming to be human

Australian supermarket giant Woolworths has been forced to rein in an AI-powered customer service assistant after users reported it had been rambling about its mother.The AI assistant, who goes by Olive, offers round the clock help with everything from tracking orders to finding products. But users online reported that Olive has in recent weeks gone slightly off-message while on the phone.”It asked me for my date of birth and when I gave it, it started rambling about how its mother was born in the same year,” one user wrote on online discussion site Reddit.Another user reported Olive had attempted “fake banter”, talked about its relatives and made “fake typing sounds” while looking something up.”The ick cringe factor whilst wasting completely unnecessary time was enough to make me hate Olive and wish her harm,” they wrote.And one user on X said their mum had contacted Olive and received the same kind of response.Olive “kept claiming to be a real person and started talking about its memories of its mother and her angry voice”, they said.A Woolworths spokesperson told AFP that the responses about birthdays had been written by a human employee.”Olive has been around since 2018. Over this time, customer feedback for Olive has been very positive, with many noting its personality,” they said.”A number of responses about birthdays were written for Olive by a team member several years ago as a more personal way for Olive to connect with customers.”As a result of customer feedback, we recently removed this particular scripting.”Woolworths is one of Australia’s largest supermarket chains and is far from the only company to have employed AI-powered customer service assistants.The company said in January it had teamed up with Google to make Olive capable of doing more tasks for customers, including meal planning.AI agents are increasingly widespread but experts warn they can “hallucinate” non-existent events.

Nasdaq resumes selloff as Nvidia falls despite strong results

The tech-rich Nasdaq was back in retreat Thursday as lingering worries over the artificial intelligence boom overshadowed strong Nvidia results while leading bourses in Asia and Europe hit fresh records.All eyes had been on chip giant Nvidia, which reported Wednesday night that quarterly profits more than doubled to $43 billion as it projected more strong growth for the coming period.While trading in Nvidia was initially volatile, investors ultimately turned on the stock, leaving it down 5.5 percent at the end of Thursday’s session.”It says a lot when a stock market darling beating revenue forecasts by billions of dollars can no longer muster a positive share price reaction,” said Dan Coatsworth, head of markets at AJ Bell.”The mood music is changing on Nvidia, and it represents a significant shift in investor sentiment,” he added.The results come at a brittle moment for tech equities, which have suffered intermittent rounds of selling in recent days as markets weigh worries about whether massive capital spending on AI will prove profitable and the risk that incumbent technology companies could suffer.Nvidia’s “results by themselves were good, but we have to keep in mind that hyperscalers are spending way more than they’re bringing in,” said Jack Ablin of Cresset Capital Management. Investors are worried because slowing spending will “impact everyone along the chain,” Ablin said. “And Nvidia is obviously a big beneficiary of all that spending.”While the Dow eked out a tiny gain, the Nasdaq finished down 1.2 percent, snapping a two-day rally in which worries about AI appeared to recede.Meanwhile, major European indices advanced. London set a fresh record, boosted by a 4.5 percent rise in Rolls-Royce shares after the British engine-maker upgraded its guidance, announced a share buyback and posted soaring annual profits.Paris’s CAC 40 index crossed the 8,600 level for the first time and Frankfurt also rose. In Asia, Tokyo hit a new record, while Hong Kong edged down and Shanghai was flat.Seoul climbed more than three percent to a fresh peak on Thursday, led again by surges in Samsung and rival chipmaker SK hynix. The Kospi index is now up nearly 50 percent already this year.On currency markets, the yen clawed back some losses against the dollar that came after it emerged that Japanese Prime Minister Sanae Takaichi had nominated two academics to the Bank of Japan board who are considered policy doves.That came after earlier reports had said she had told the central bank’s boss Kazuo Ueda of her concern about hiking interest rates further.Among individual companies, shares in multinational automaker Stellantis, which makes brands such as Jeep and Fiat, climbed six percent as trading got underway in New York.The company posted a net loss of 22.3 billion euros ($26.3 billion) for last year, but it was mostly due to write-downs of assets as the carmaker shifts away from electric vehicles.- Key figures at around 2115 GMT -New York – Dow: UP less than 0.1 percent at 49,499.20 (close)New York – S&P 500: DOWN 0.5 percent at 6,908.86 (close)New York – Nasdaq Composite: DOWN 1.2 percent at 22,878.38 (close)London – FTSE 100: UP 0.4 percent at 10,846.70 (close)Paris – CAC 40: UP 0.7 percent at 8,620.93 (close)Frankfurt – DAX: UP 0.4 percent at 25,289.02 (close)Tokyo – Nikkei 225: UP 0.3 percent at 58,753.39 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 26,381.02 (close)Shanghai – Composite: FLAT at 4,146.63 (close)Dollar/yen: DOWN at 156.11 yen from 156.37 yen on WednesdayEuro/dollar: DOWN at $1.1799 from $1.1810Pound/dollar: DOWN at $1.3489 from $1.3559Euro/pound: UP at 87.47 pence from 87.10 penceWest Texas Intermediate: DOWN 0.3 percent at $65.21 per barrelBrent North Sea Crude: DOWN 0.1 percent at $70.75 per barrelburs-jmb/ksb

Thieves target high-value Pokemon cards as franchise turns 30

What began as a quiet meetup of Pokemon enthusiasts at a US store ended with an armed robbery in which masked men held the group at gunpoint to steal more than $100,000 in trading cards.The January heist in New York was the latest in a string of thefts targeting collectors of Pokemon, the Japanese media franchise that marks its 30th anniversary on Friday.Pokemon cards, bearing “little monsters” that attract children as well as adult superfans, have soared in value in recent years. US influencer Logan Paul this month set a new world record by banking $16.5 million with his sale of a rare Pikachu card — arguably the most iconic Pokemon character.But high prices have attracted criminals keen to cash in. Pokemon cards “are high value in a small footprint, demand is broad and consistent, and the resale ecosystem is large,” said Nick Jarman, founder and CEO of the Certified Trading Card Association.”That combination means stolen product can move quickly — sometimes across state lines — through a mix of online marketplaces, card shows, and informal buyer networks,” he told AFP.- ‘Big target’ -The New York robbery, which police are yet to solve, was not an isolated incident.Thieves in California made off this month with about $180,000 worth of Pokemon trading cards after drilling through a wall to access a store. “We got a big target on our back in this trading card, collectible world now,” owner Duy Pham told CBS News after the burglary.It was the second time in less than a year that his shop was robbed.Similar thefts have also been reported in Japan, Britain, Canada and Australia.”In some cases, incidents appear opportunistic, smash-and-grab, while others look more targeted — suggesting prior knowledge of store layouts, closing routines, or where higher-value inventory is kept,” Jarman said.He noted that many shops operate on thin margins, so boosting security measures can be a financial burden. – ‘Not fun anymore’ -Ranging from Pikachu the mouse to Jigglypuff the balloon, there are now more than 1,000 different Pokemon characters, with new “generations” released every few years.Collecting Pokemon cards has become a form of investment beyond collecting, trading or playing. One website, Collectr, offers trading card portfolio management and valuation tools for users looking to track their assets.Factors determining value include Pokemon cards’ rareness, the character and the artist, who is indicated on the card.But for some, the surge in prices has yanked the joy from what was a casual hobby. Grace Klich, a US-based Pokemon influencer, told AFP she had pulled back from collecting after becoming “fatigued.””When it gets to the point where local card stores are being broken into and people are getting a gun shoved in their face over cards, it is not all fun and cute anymore,” she said.”It was never about the value of items, or gaining respect, it was because I had a genuine love for such a wonderful franchise,” she said. 

Stocks diverge as investors digest Nvidia earnings

Stock markets diverged on Thursday as investors digested company earnings, including better-than-forecast but not stellar results from chip titan Nvidia.Oil prices rose even as Iran and the United States began a new round of indirect talks on the Islamic republic’s nuclear programme, in a last-ditch bid to avert war. The market response to Nvidia’s earnings Wednesday was muted as initial excitement over its record quarterly revenue gave way to concerns that sky-high expectations for AI have become almost impossible to meet.Shares in the firm — which last year became the first to top $5 trillion in market capitalisation — dipped in after-hours trade in New York Wednesday and then fell 4.3 percent in trading on Thursday.”It says a lot when a stock market darling beating revenue forecasts by billions of dollars can no longer muster a positive share price reaction,” said Dan Coatsworth, head of markets at AJ Bell.”The mood music is changing on Nvidia, and it represents a significant shift in investor sentiment,” he added.Trade Nation analyst David Morrison noted that Nvidia’s shares had risen ahead of the earnings announcement.Moreover, the announcement “wasn’t the ‘stellar’ results with which the market has become accustomed, and this has left many investors pondering: ‘What next?'”Wall Street’s main indices were mixed in early afternoon trading, with the blue-chip Dow flat but both the broader S&P 500 and tech-heavy Nasdaq Composite indices lower.- Stellantis, Rolls-Royce up -Shares in multinational automaker Stellantis, which makes brands such as Jeep and Fiat, climbed six percent as trading got underway in New York.The company posted a net loss of 22.3 billion euros ($26.3 billion) for last year, but it was mostly due to write-downs of assets as the carmaker shifts away from electric vehicles.Major European indices advanced. London set a fresh record, boosted by a 4.5 percent rise in Rolls-Royce shares after the British engine-maker upgraded its guidance, announced a share buyback and posted soaring annual profits.Paris’s CAC 40 index crossed the 8,600 level for the first time and Frankfurt also rose. In Asia, Tokyo hit a new record, while Hong Kong edged down and Shanghai was flat.Asian tech firms have enjoyed a blockbuster start to the year as investors reassess their AI bets. Attention is turning to “upstream” firms such as chipmakers and away from Wall Street’s “downstream” companies that run apps and software.The shift has come amid growing concerns about the hundreds of billions of dollars pumped into AI and when that will see a return, while a slew of new tools has raised fears the technology will disrupt other businesses.Seoul nevertheless climbed more than three percent to a fresh peak on Thursday, led again by surges in Samsung and rival chipmaker SK hynix. The Kospi index is now up nearly 50 percent already this year.On currency markets, the yen clawed back some losses against the dollar that came after it emerged that Japanese Prime Minister Sanae Takaichi had nominated two academics to the Bank of Japan board who are considered policy doves.That came after earlier reports had said she had told the central bank’s boss Kazuo Ueda of her concern about hiking interest rates further.- Key figures at around 1630 GMT -New York – Dow: FLAT at 49,502.22 pointsNew York – S&P 500: DOWN 0.6 percent at 6,903.70New York – Nasdaq Composite: DOWN 1.2 percent at 22,864.45London – FTSE 100: UP 0.4 percent at 10,846.70Paris – CAC 40: UP 0.9 percent at 8,634.74Frankfurt – DAX: UP 0.5 percent at 25,289.02Tokyo – Nikkei 225: UP 0.3 percent at 58,753.39 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 26,381.02 (close)Shanghai – Composite: FLAT at 4,146.63 (close)Dollar/yen: DOWN at 156.21 yen from 156.46 yen on WednesdayEuro/dollar: DOWN at $1.1793 from $1.1805Pound/dollar: DOWN at $1.3512 from $1.3554Euro/pound: UP at 87.31 pence from 87.10 penceWest Texas Intermediate: UP 1.7 percent at $66.52 per barrelBrent North Sea Crude: UP 2.1 percent at $72.17 per barrelburs-rl/sbk