Justice Department wins lawsuit to undo JetBlue, American Airlines partnership in the Northeast
2023-05-20 04:42:39
Asia-Pacific markets opened higher on Thursday, tracking gains on Wall Street after a volatile session spurred by inflation data. Japan’s Nikkei 225 jumped 3% in early trading and the broad-based Topix advanced 2.48%. Asian chipmaking heavyweights rallied after Nvidia CEO Jensen Huang made a compelling case for the future demand for AI chips. “AI is not about a chip. AI is about an infrastructure,” the founder of the artificial intelligence chip powerhouse said at the Goldman Sachs Communacopia + Technology Conference in San Francisco. Demand for the company’s advanced AI products is “tense,” he said. SK Hynix soared over 6% and Samsung Electronics traded 2.3% higher. Tokyo Electron rose 5.2% and shares of SoftBank Group, which owns a stake in chip designer Arm , jumped over 6%. Japan’s producer price index rose 2.5% year-on-year in August, less than the expected 2.8% and the 3% reported in the previous month. The data is among the key indicators closely watched by the Bank of Japan. The central bank has signaled it intends to further raise interest rates in coming months. Investors will also look toward the release of Hong Kong’s producer price index for the second quarter this afternoon. India is also poised to release its August consumer price index late Thursday. Economists polled by Reuters expect it to rise 3.5% year-on-year, compared to 3.54% in July. Chinese home appliance maker Midea Group plans to price its shares at the top of the range in a deal that would raise at least $3.46 billion in a Hong Kong listing, Reuters reported Wednesday, citing people with direct knowledge of the matter. The listing is set to be the largest offering in Hong Kong since May 2021.
