Asian stock markets moved higher on Friday (16 October 2026),\nfollowing gains on Wall Street at the close of trading on Thursday local\ntime.<\/p>\n
According to CNBC, Japan\u2019s Nikkei 225 rose by more than 1%, while the\nTopix gained 1.14%.<\/p>\n
In South Korea, the Kospi was up 1.22% at the market open, while the\nsmall-cap Kosdaq advanced 1.28%. Australia\u2019s benchmark S&P\/ASX 200\nrose 0.83%.<\/p>\n
Asian markets gained after all three major Wall Street indices closed\nin positive territory on Thursday. Investors rotated out of some leading\ntechnology shares and into other sectors, with the Dow Jones Industrial\nAverage leading the rise, surging by more than 500 points, or about\n1.1%.<\/p>\n
The S&P 500 rose about 0.3%, while the Nasdaq Composite gained\njust 0.1%. The gains ended a three-day losing streak for both the\nS&P 500 and the Nasdaq Composite.<\/p>\n
However, artificial intelligence (AI)-related stocks, particularly\nmemory-chip manufacturers, remained under pressure this week. Concerns\nabout competition from China were among the factors weighing on the\nshares.<\/p>\n
Micron Technology shares closed higher on Thursday, but remained on\ntrack to fall by more than 9% for the week. Seagate Technology and\nWestern Digital shares were also expected to post weekly losses.<\/p>\n
Technology stocks also faced pressure amid investor concerns about\nthe large amounts of debt companies are taking on to finance AI\ninfrastructure. Shares in CoreWeave, a specialist AI cloud-computing\nprovider, were on course to fall by about 15% for the week, despite\nrecovering on Thursday after plunging sharply the previous day.<\/p>\n
Meanwhile, AI company Anthropic told investors that its third-quarter\nrevenue reached US$16.8 billion. The disclosure drew the attention of\nmarket participants assessing whether AI business growth is strong\nenough to sustain gains in chipmakers\u2019 share prices.<\/p>\n
Nvidia and Broadcom, two major players in the AI chip industry,\nremained in negative territory for the week. Their performance added to\npressure on the S&P 500 and Nasdaq Composite.<\/p>\n
For the week, the S&P 500 was down nearly 1%, while the Nasdaq\nComposite had fallen by more than 2%. The Dow Jones, by contrast, was on\ntrack to gain about 1% over the same period.<\/p>\n
Jeff Richards, managing partner at Notable Capital, said one of the\nmain challenges facing the AI and technology industries over the past\nsix to 12 months had been the limited information available about\nprivately held companies. He made the comments in an interview with CNBC\non Thursday local time.<\/p>\n
Richards said initial public offerings (IPOs) by AI companies such as\nAnthropic and OpenAI could help ease investor concerns. As more\ninformation becomes publicly available, including analyst research and\ncompanies\u2019 key operating data, market uncertainty is expected to\nsubside.<\/p>\n
\u201cOnce we get more of the information out there \u2013 analyst coverage,\ndetailed information on core metrics \u2013 into the market over the course\nof \u201927, I think a lot of those fears will ease,\u201d Richards said.<\/p>\n
Outside the technology sector, investors were also monitoring\nhigher-than-expected US inflation, amid rising energy prices following\nthe US-Iran war. Producer prices recorded their largest monthly increase\nsince 2022 in September, while consumer inflation remained well above\nthe Federal Reserve\u2019s 2% target.<\/p>\n
The figures add to the challenges facing financial markets, as\ninflationary pressure could influence the US central bank\u2019s monetary\npolicy. Market participants are now awaiting earnings reports from\nseveral companies before Wall Street opens on Friday, including insurer\nTravelers and bank Citizens Financial.<\/p>\n
Indonesia\u2019s Composite Stock Price Index (JCI) plunged at the opening\nof trading on Friday (16 October 2026). The benchmark index of the\nIndonesia Stock Exchange opened at 5,393.92, down 469.86 points, or\n8.01%, from Thursday\u2019s closing level of 5,863.78.<\/p>\n
Trading volume stood at 53.6 million lots, with transactions valued\nat Rp922.33 billion.<\/p>\n
Indonesia\u2019s financial markets are expected to remain under pressure\nfrom several negative overseas factors, including the latest\nannouncement from MSCI, rising US inflation and war.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/asian-markets-rise-in-unison-while-the-jci-falls-alone-1792119062", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }