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Global Markets Rally on Rate Cut Hopes; AI Chip Rivalry Intensifies
Stock Market Newsยท 2025-11-26 03:08
Market Overview - Asia-Pacific markets showed strong performance, with the MSCI's index of Asia-Pacific shares excluding Japan rising by 1%, Japan's Nikkei gaining 0.8%, and South Korea's Kospi surging 2.39% [2][8] - The Hang Seng Index in Hong Kong climbed to 26,000 points, driven by expectations of a U.S. Federal Reserve interest rate cut [3][8] Technology Sector Developments - The AI chip market is experiencing intensified competition, with Meta Platforms in talks to acquire Google's Tensor Processing Units, potentially challenging Nvidia's market dominance, which saw a 4% drop in shares during premarket trading [4][8] - Amazon is under investigation by the FAA following an incident involving one of its delivery drones, while SK Hynix has launched a unique snack in collaboration with 7-Eleven, marking a first for the semiconductor industry [5] - Taiwan's China Steel Corp. is expanding into the drone and robotics sectors, producing motors for UAVs and developing ultra-thin electromagnetic steel products [6] Foreign Exchange and Investment Trends - South Korea's Finance Minister has pledged to address extreme fluctuations in the foreign exchange market, with a focus on monitoring speculative activities [9][10] - Domestic investors in South Korea have significantly increased overseas stock purchases, with net purchases of U.S. stocks reaching $6.85 billion last month [10] Geopolitical Context - Beijing has reiterated its determination to counter foreign interference regarding Taiwan, particularly in response to Japan's missile deployment [11] - Ukrainian President Zelenskiy expressed readiness to advance a U.S.-backed framework for ending the war with Russia, with discussions expected to involve U.S. President Trump and European allies [13]