India Stocks Set to Beat Asia by Most In Over a Year on AI Rout
Indian equities outpaced Asian peers on Thursday, as an unwinding of the artificial intelligence trade spurred a rotation toward markets that had largely missed the surge.
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Indian equities outpaced Asian peers on Thursday, as an unwinding of the artificial intelligence trade spurred a rotation toward markets that had largely missed the surge.
Most emerging Asian stocks and currencies were headed for monthly losses on Wednesday as higher U.S. yields and a firm dollar weighed. South Korea and Taiwan were among the regional gainers, helped by chip demand and AI investment flows.
Regional equities and currencies fell on Wednesday, with oil-importing economies and deficit countries among the weakest. The won was the only regional currency to gain in September, while Indonesia's rupiah remained the worst performer this year.
Most regional currencies are set for monthly losses, with the rupiah down 0.9% in September and the Thai baht and Malaysian ringgit down more than 1.3%. Regional stock markets were mixed, while Thailand shares were on course for their steepest one-day drop since June.
Most regional currencies were subdued and set for monthly losses as higher U.S. yields and a firm dollar weighed on sentiment. The rupiah recovered after Bank Indonesia said it would intervene in the spot market when needed.
Oracle climbed in premarket trading after reporting better-than-expected first-quarter financial results and raising its FY27 adjusted EPS guidance.