TSMC shares hit record high after Morgan Stanley lifts client Nvidia’s price target on AI chip demand
Shares of TSMC reached its highest level in history on Thursday.
S&P 500 closes at record high, Dow gains 300 points in late-day rally
The S&P 500 notched a new record high, as stocks rose to rebound from their losses earlier this week.
Japan is no longer the world’s third-largest economy as it slips into recession
Japan’s 2023 nominal GDP came in at 591.48 trillion yen, or $4.2 trillion, while Germany’s stood at 4.12 trillion euros, or $4.46 trillion.
Japanese chipmaker Renesas to buy software company Altium for $5.9 billion
Japan’s semiconductor firm Renesas Electronics said it would buy software company Altium in a deal worth $9.1 billion Australian dollars ($5.91 billion).
South Korea prepares $57 billion corporate financial support program
South Korea has prepared a financial support program for companies increasing investment in key sectors and businesses struggling following interest rate hikes.
Japan’s economy unexpectedly slips into recession, hurt by weak domestic demand
Provisional gross domestic product contracted 0.4% in the fourth quarter compared with a year ago, after contracting 2.9% in the July-September period.
Singapore trims 2023 economic growth to 1.1% as manufacturing sector contracts
Singapore lowered its full-year growth for 2023, as official data on Thursday showed the economy grew 1.1% last year compared to an earlier estimate of 1.2%.
CNBC Daily Open: A bumpy ride to beating inflation
Wall Street returned to some level of calm after markets nosedived a day earlier over inflation jitters.
ASML and more: BofA just got more bullish on these 3 chip stocks, says AI spending is heating up
“Given the scarcity of value in Europe for AI-related stocks, we believe the market will likely re-rate these names further,” the Wall Street bank says.
Morgan Stanley names Asia-Pacific ‘alpha’ stock ideas for February — giving one nearly 80% upside
The performance of major Asia markets has been uneven for the past year, but investors can look to the bank’s list of “alpha” stocks that could beat the market.
