Latest Business News
Australia's RBA Hikes Rates to 3.85% Amid Global Risk-Off Sentiment
Australia's central bank raised interest rates to 3.85%, contributing to broader market caution. This move coincided with declines in US tech stocks and Asian markets. Investors reassessed valuations amid AI disruption concerns.
Japan's LDP Secures Supermajority in Key Election
Japan's ruling Liberal Democratic Party (LDP) won a two-thirds majority, boosting political stability. Markets reacted positively in some areas despite global tech weakness. This outcome supports policy continuity in the region.
AI Disruption Fears Hammer US Tech Stocks by 7.5%
US software stocks plunged 7.5% due to concerns over AI disruption, dragging down broader indices. The Nasdaq 100 declined 1.9% while the Dow Jones rose 2.5% past 50,000. Dip-buying emerged in tech amid divergent equity performance.
Hong Kong's Hang Seng Retreats 3% on Tech Sell-Off
The Hang Seng Index fell 3.0% as spillover from US tech weakness hit Asian markets. Tech giants like Tencent, Alibaba, and Baidu declined alongside chipmaker SMIC. Precious metals volatility compounded investor caution.
Bitcoin Tumbles Below $70,000 in Risk-Off Environment
Cryptocurrency Bitcoin dropped below $70,000 amid heightened risk aversion. This followed sharp declines in equities driven by AI fears and rate hikes. Broader market sentiment weighed on speculative assets.
Global PMI Rises to 52.5 in January, Signaling Slight Growth Improvement
S&P Global's J.P. Morgan Global Composite PMI climbed from 52.0 to 52.5, indicating modest economic expansion at 2026's start. This marked the first rise in three months after a six-month low. Europe bucked gloomy trends with stronger outlooks.
Eurozone Growth Slows to Four-Month Low Despite PMI Uptick
Eurozone output expanded at a modest pace, hitting a four-month low within the global PMI improvement. Business optimism rose to a 20-month high on forward expectations. Divergence appeared versus other developed markets.
Emerging Markets Led by India Show Modest Growth Gains
India led emerging market growth, with China and Russia expanding modestly; Brazil stalled but shows recovery signs. Concerns over US tariffs dampened outlooks in China, India, Brazil. Overall EM growth edged higher.
OECD Headline Inflation Stable at 3.7% in December 2025
Year-on-year CPI inflation across OECD countries held at 3.7% in December 2025, down slightly from 3.8%. This stability reflects ongoing price pressures amid global economic shifts. Data updated as of February 9, 2026.
Kuaishou Shares Plunge 11% After Regulatory Fines
Chinese video platform Kuaishou dropped 11% following fines for inappropriate content. This exacerbated tech sector losses in Hong Kong amid valuation reassessments. Broader AI and regulatory worries hit peers.
SMIC Declines 10% as Investors Reassess AI Chip Valuations
Chipmaker SMIC fell 10%, trading at 67x forward P/E versus TSMC's 23x, prompting valuation concerns. AI beneficiary stocks faced broad pressure in Asian markets. Sector weakness spilled over regionally.
US Markets Await Delayed CPI and Jobs Data Post-Shutdown
US CPI report delayed two days and January jobs data rescheduled to February 11 due to government shutdown. Forecasts show 70k payroll adds; disinflation may aid Fed rate cuts. Key data to influence Fed Chair Warsh's policy.