Asian markets rise as CoreWeave earnings ease AI concerns; Japan leads gains

Résumé détaillé

Japan's Nikkei 225 gains 0.28% and the Topix rises 0.64%, while South Korea's Kospi slips amid mixed regional trading. Strong CoreWeave results and an improved annual outlook…

Asian stocks opened mostly higher on Wednesday November 11, as strong earnings from CoreWeave eased worries about the artificial intelligence (AI) trade and offset a Wall Street selloff driven by hot US inflation.

Japanese markets led the gains in Asia as the country's Nikkei 225 gained 0.28% and the Topix climbed 0.64%. Taiwan's TAIEX added 0.58%, while South Korea's Kospi swung between gains and losses before sliding 0.34%. Hang Seng futures fell 1%.

A broader gauge of Asian shares advanced 0.2%, and Nasdaq 100 futures rose 0.4% after the index lost 0.6% in regular trading.

In Japan much of the focus will most likely be on SoftBank Group shares after it dropped 8% in trade. The company swung to a 1.12 trillion yen ($7.1 billion) loss in its fiscal second quarter after writing down non-refundable advance payments for its US data-centre projects.

The Japanese yen traded at 158.74 per dollar, and the offshore yuan stood at 6.6760.

In India, the GIFT Nifty pointed to a positive start for Indian markets. The recent rally has pushed the Relative Strength Index (RSI) of both the Nifty and Nifty Bank into overbought territory, though the charts show no clear sign of weakness. The country's Nifty will likely attempt to defend its 25,000 mark on Wednesday.

CoreWeave shares rose about 2% in late trading on Tuesday, after the company beat analysts' estimates and raised its annual forecast. The results calmed fears that the debt-laden firm faced a slowdown. Investors also seemed to have tracked reports that Anthropic is targeting a fully diluted market value of $1.4 trillion in its initial public offering (IPO).

In the US, the S&P 500 snapped two straight sessions of gains. Bureau of Labor Statistics data showed core consumer prices, which exclude food and energy, rose 0.3% in October from September. That topped estimates for a third consecutive month. Headline CPI jumped 0.4% as the cost of essentials climbed across the board.

Treasuries sold off after the release, and short-dated…

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