Indonesian stocks hit six-year low after MSCI reclassification warning
The stock exchange tightened its lower trading limit as MSCI considered moving Indonesia out of its emerging-market category.
US chip stocks rebound after semiconductor index loses more than 11%
The Philadelphia semiconductor index rose 2.8% on October 19, putting it on track to end an eight-session decline.
US semiconductor and other AI-linked shares recovered on October 19 following sharp losses, with the Philadelphia semiconductor index gaining 2.8%. The rebound came alongside lower Treasury yields and easing crude prices.
The chip index had fallen more than 11% in the preceding week. An eight-session slide through Friday erased around $2 trillion in market value, leaving it poised to end its longest losing streak since October 2008.
Intel rose 5.6%, while AMD gained 4.3%, Broadcom added 2.2% and Nvidia advanced 0.6%. Micron Technology increased 3.8% after a decline of nearly 15% in the prior week. Storage companies Sandisk, Western Digital and Seagate also recovered.
Cloud-computing company CoreWeave gained 3.4% after shedding more than a quarter of its value during the previous week, when concerns about its $50 billion debt load spread across AI-related stocks. Tradeweb data showed the yield on its bond due in 2031 declining 25 basis points to around 15%, compared with more than 16% the week before.
Nebius Group rose 4.5% following losses exceeding 31% over the previous two weeks. Data-center operators Applied Digital and IREN gained 9% and 5.7%, respectively.