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Asian shares fall as Nvidia, other tech companies walloped by US controls on AI chips
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....sian shares fall as Nvidia, other tech companies walloped by US controls on AI chips<BR>PTI News<BR>Dated:- 16-4-2025<BR>PTI<BR>Bangkok, Apr 16 (AP) World shares were mostly lower on Wednesday as Nvidia and other technology companies were walloped by tighter US controls on exports of advanced computer chips used for artificial intelligence. The future for the S and P 500 skidded 1.2 per cent whil....
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....e that for the Dow Jones Industrial Average lost 0.6 per cent. Chip maker Nvidia's shares fell 6.3 per cent in after-hours trading after it said the US had imposed stricter controls on its exports of one of its computer chips designed for use in artificial intelligence. Rival chip maker AMD's shares dropped 7.1 per cent after US markets closed. Trade war concerns also were revived by a Trump adm....
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....inistration announcement of an investigation into imports of critical minerals such as rare earths, which are used in smart phones, electric vehicles and many other products. In early European trading, Britain's FTSE 100 lost 0.2 per cent to 8,233.10 after the government said inflation in the UK fell for the second month running in March largely as a result of lower gas prices. Germany's DAX fel....
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....l 0.7 per cent to 21,107.68, while the CAC 40 in Paris gave up 0.6 per cent to 7,289.67. Stocks in China led the regional declines after the Chinese government reported the world's second largest economy grew at a strong 5.4 per cent annual rate in the last quarter, helped by strong industrial production, retail sales and exports. But in quarterly terms, growth slowed to 1.2 per cent in January....
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....-March from 1.6 per cent in the last quarter of 2024. Hong Kong's Hang Seng dropped 2 per cent to 20,922.54, while the Shanghai Composite index regained lost ground, edging 0.1 per cent higher to 3,271.19. Private sector economists have been downgrading their forecasts after President Donald Trump recently pushed his tariffs on most imports from China to 145 per cent, while China raised its duti....
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....es on imports from the US to 125 per cent. Analysts at ANZ Research said activity in the current quarter is already weakening. “Our view is that the tariff shock is caused by the unpredictability rather than the tariff itself. President Trump's announcements have affected business sentiment and activity,” Raymond Yeung and other ANZ researchers said in a report after the China data was relea....
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....sed. In Tokyo, the Nikkei 225 index shed 1 per cent to 33,920.40, pulled lower by big tech companies like chip testing equipment maker Advantest, whose shares dropped 6.6 per cent and Disco Corp. which plunged 8 per cent. South Korea's Kospi fell 1.2 per cent to 2,447.43, while in Australia, the S and P/ASX 200 edged less than 0.1 per cent lower to 7,758.90. India's Sensex was little changed an....
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....d Bangkok's SET edged 0.1 per cent lower. On Tuesday, US stocks drifted, with the S and P 500 slipping 0.2 per cent and the Dow down 0.4 per cent. The Nasdaq composite edged less than 0.1 per cent lower. Uncertainty over President Donald Trump's tariffs kept investors watching to see what comes next. The US bond market appeared to calm after its sudden and sharp moves last week shook confidence....
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.... in the status of US government bonds as a safe haven against risks. The yield on the 10-year Treasury was steady at 4.33 per cent, down from 4.38 per cent late Monday and 4.48 per cent at the end of last week. A week earlier it had been at just 4.01 per cent. Yields usually drop when investors are jittery, so this week's moves have offered reassurance. The value of the US dollar also steadied....
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.... after tumbling last week, raising more worries that Trump's trade war also may be undermining its status as a safe-haven investment. Palantir Technologies climbed 6.2 per cent for a second day of gains after NATO said it would use the company's artificial-intelligence capabilities in its allied command operations. In other dealings early Wednesday, US benchmark crude oil lost 69 cents to USD 60....
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.....64 per barrel, while Brent crude, the international standard, fell 65 cents to USD 64.01 per barrel. Trump's tariffs have raised expectations that economies will slow, denting demand for oil and other resources. The US dollar fell to 142.26 Japanese yen from 143.24 yen. The euro rose to USD 1.1377 from USD 1.1283. (AP) PY PY<BR> News - Press release - PIB....