Asian shares tumble, oil rises as markets await AI sector results
SPY•Asian stocks fell broadly on Tuesday, led by a 3.61% drop in South Korea’s KOSPI, while Brent crude rose 0.21% to $109.78 a barrel. Investors awaited results from Meta, Tesla and chipmakers, while weighing geopolitical risks and a U.S. order waiving some Russia-related energy restrictions pending a final decision.
1. Asian shares retreat
The MSCI Asia ex-Japan index fell 0.93% and Japan’s Nikkei 225 dropped 1.28% on Tuesday. South Korea’s KOSPI fell 3.61%, while shares in AI infrastructure company Elice Group opened 16% below their IPO price after its $151.12 million offering.
2. Earnings in focus
Investors awaited results from Meta on Wednesday and from Tesla, Lam Research and Texas Instruments later in the week. SpaceX results were also due Tuesday. Meta is among five AI hyperscalers expected to increase combined capital expenditure to about $1.2 trillion next year, according to Goldman Sachs.
3. Oil and geopolitical risks
Brent crude rose 0.21% to $109.78 a barrel and U.S. West Texas Intermediate gained 0.15% to $103.82. Markets weighed an executive order waiving some Russia-related U.S. sanctions and tariffs on energy, though President Donald Trump said he had yet to make a final decision. French riots and curfews also added to market concerns.
