Seoul hits fresh record on mixed day for Asia markets
Seoul’s Kospi index hit another record high Thursday on a mixed day for Asian equities following a strong lead from Wall Street but with traders giving a tepid response to forecast-beating earnings from chip titan Nvidia.Tech firms in the region have enjoyed a blockbuster start to the year as investors reassess their AI bets, with attention turning to “upstream” firms such as chipmakers and away from Wall Street’s “downstream” companies that run apps and software.The shift has come amid growing concerns about the hundreds of billions of dollars pumped into artificial intelligence and when that will see a return, while a slew of new tools has raised fears the technology will disrupt other businesses.Still, South Korea’s Kospi climbed two percent to a fresh peak Thursday, a day after breaking 6,000 points for the first time, led again by chipmakers Samsung and SK hynix.Tokyo also hit a new record, while Sydney, Wellington, Manila and Jakarta also enjoyed buying. Hong Kong, Shanghai, Singapore and Taipei edged down.While the mood remains upbeat, sentiment was tempered by disappointment over Nvidia’s earnings, despite posting record revenue of $68.1 billion in October-December, thanks to insatiable demand for its AI chips.It also forecast first-quarter revenue of between $76.4 billion and $79.6 billion, far above estimates of $72.8 billion.Shares in the firm — which last year became the first to top $5 trillion in market capitalisation — dipped in after-hours trade in New York, with analysts saying expectations had become almost impossible to meet.”There was a time when beating the number was enough. Now you have to beat the whisper, crush the dream, and torch the most optimistic sell-side spreadsheet in Silicon Valley just to keep the tape happy,” wrote SPI Asset Management’s Stephen Innes.”On paper, this was another thunderclap quarter. And yet the stock dipped. The market is no longer pricing growth. It is pricing perpetuity.”And Charu Chanana at Saxo said: “We’ve moved from Phase One, where (capital expenditure) automatically meant upside for the entire ecosystem, to Phase Two, where investors want proof of monetisation and spending discipline.”The key question is no longer ‘who can spend the most’, but ‘who can turn that spend into durable profits’.”That’s why AI volatility can continue even after a big Nvidia beat.”Futures in all three main indexes on Wall Street were in the red, after they had enjoyed a strong run-up Wednesday.On currency markets the yen clawed back some losses against the dollar that came after it emerged that Japanese Prime Minister Sanae Takaichi had nominated two academics to the Bank of Japan board who are considered policy doves.That came after reports had earlier said she had told the central bank’s boss Kazuo Ueda of her concern about hiking interest rates further.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: UP 0.5 percent at 58,856.98 (break)Hong Kong – Hang Seng Index: DOWN 0.5 percent at 26,644.06Shanghai – Composite: DOWN 0.1 percent at 4,141.41Dollar/yen: DOWN at 155.84 yen from 156.46 yen on WednesdayEuro/dollar: UP at $1.1825 from $1.1805Pound/dollar: UP at $1.3569 from $1.3554Euro/pound: UP at 87.15 pence from 87.10 penceWest Texas Intermediate: UP 0.3 percent at $65.63 per barrelBrent North Sea Crude: UP 0.4 percent at $71.10 per barrelNew York – Dow: UP 0.6 percent at 49,482.15 (close)London – FTSE 100: UP 1.2 percent at 10,806.41 (close)
US eases Cuba oil embargo but demands ‘dramatic’ change
The United States on Wednesday eased an oil embargo on Cuba but Secretary of State Marco Rubio called for the island to change “dramatically,” saying the communist government had only itself to blame for a historic economic crisis.Rubio, a Cuban-American and lifelong critic of Havana’s government, heard concerns that the island’s tumult could destabilize the whole region as he attended a Caribbean Community summit.Attending the talks on the tiny island nation of Saint Kitts and Nevis, Rubio staunchly defended the January 3 US attack that deposed Venezuela’s leftist leader Nicolas Maduro.The United States swiftly then blocked Venezuela from exporting oil to Cuba, which had relied on its ally for nearly half its needs, triggering fuel shortages and rolling blackouts on the island.The Treasury Department announced Wednesday that the United States would allow Venezuelan oil exports to Cuba if sent to the private sector — a small presence in the communist nation.Rubio warned that the sanctions would be snapped back if the oil winds up going to the government or military.”But Cuba needs to change. It needs to change dramatically because it is the only chance that it has to improve the quality of life for its people,” Rubio told reporters.It is “a system that’s in collapse, and they need to make dramatic reforms,” he said.”If they want to make those dramatic reforms that open the space for both economic and eventually political freedom for the people of Cuba, obviously the United States would love to see that,” he said.Rubio blamed economic mismanagement and the lack of a vibrant private sector for the dire situation in Cuba, under communist rule since Fidel Castro’s 1959 revolution.”This is the worst economic climate Cuba has faced. And it is the authorities there, and that government who are responsible for that,” Rubio said.- Warnings of instability -Rubio spoke as Cuba announced that it had killed four people on a speedboat registered in Florida.Cuba said that the gunmen had intended to infiltrate from the United States.Rubio said that the United States was still studying the “unusual” incident and would respond but said little information was verified.Caribbean leaders warned that any further deterioration in Cuba would impact the region and trigger migration — President Donald Trump’s top political concern.”Humanitarian suffering serves no one,” Jamaican Prime Minister Andrew Holness said. “A prolonged crisis in Cuba will not remain confined to Cuba.”Canada, which has long broken with its southern neighbor by maintaining warm relations with Havana, announced Can$8 million ($5.8 million) in aid for Cuba.The Caribbean summit’s host, Saint Kitts and Nevis Prime Minister Terrance Drew, studied in Cuba to be a doctor and said friends have told him of food scarcity and garbage strewn in the streets.”A destabilized Cuba will destabilize all of us,” Drew said.- ‘Without apology’ on Venezuela -Addressing the summit, Rubio staunchly defended the deadly operation that seized Maduro, saying that Venezuela has made “substantial” progress since then.”I will tell you this without any apology or without any apprehension: Venezuela is better off today than it was eight weeks ago,” Rubio said.Rubio said he believed Venezuela had moved to a new phase and that there was a need for “fair, democratic elections,” although he did not lay out a timetable.The United States once championed Venezuela’s democratic opposition but since removing Maduro it has worked with interim president Delcy Rodriguez, who was Maduro’s deputy.Trump has voiced satisfaction with Rodriguez, including her welcome to US oil companies, and has threatened her with violence if she does not do his bidding.Rubio also met at the summit with beleaguered Haiti’s prime minister, Alix Didier Fils-Aime. Rubio said he was upbeat about progress in setting up a new UN-blessed force to suppress Haiti’s powerful gangs and voiced hope that the country will finally hold elections this year for the first time in a decade.Rubio is the highest-ranking sitting US official ever to visit Saint Kitts and Nevis, a tiny former British colony reliant on beach tourism that was the birthplace of a US founding father, Alexander Hamilton.
DR Congo sanctuary resists bloody forest sell-offThu, 26 Feb 2026 01:28:23 GMT
The soft singing of workers rings out at daybreak in the Congolese village of Romee, whose wooded haven is threatened by a scramble for forest land that has sparked deadly violence.In one of the world’s biggest and most precious forests, these locals have so far escaped the clutches of investors seizing concessions in the Democratic …
DR Congo sanctuary resists bloody forest sell-offThu, 26 Feb 2026 01:28:23 GMT Read More »



