{"text":[[{"start":8.72,"text":"A global AI sell-off eased on Monday, with US technology stocks set to open higher after a bruising rout last week."}],[{"start":17.24,"text":"Futures for the tech-heavy Nasdaq 100 index and the broad-based S&P 500 rose 0.9 per cent and 0.5 per cent, respectively, during Asian trading ahead of the Wall Street open."}],[{"start":29.08,"text":"The rise came after the Nasdaq 100 fell 3.5 per cent on Friday, logging its worst month in more than a year in October. The Philadelphia Semiconductor Index, which tracks the major US chip companies, tumbled 7.2 per cent."}],[{"start":42.96,"text":"“The sell-off that we saw on Friday is decoupled from the fundamental picture,” said Ecaterina Bigos, senior market strategist at BNP Paribas Asset Management."}],[{"start":53.32,"text":"In Asia, shares of the chipmakers supplying AI data centres were mixed."}],[{"start":57.88,"text":"SK Hynix and Samsung Electronics, the two biggest makers of memory chips, gained 4.6 per cent and 2.2 per cent, respectively, driving South Korea’s Kospi benchmark up 2.7 per cent."}],[{"start":70.48,"text":"But shares of TSMC, the world’s biggest contract chipmaker, declined 1.3 per cent. Japanese memory-chip maker Kioxia slumped 14 per cent after its profit outlook on Friday fell short of expectations."}],[{"start":84.12,"text":"“What we are witnessing is structural uncertainty about the AI build-out expressing itself through episodic panic,” wrote Ajay Rajadhyaksha, global chair of research at Barclays, in a note on Sunday."}],[{"start":95.54,"text":"In China, the CSI 300 index rose 1.3 per cent and the tech-focused Star 50 jumped 3 per cent after reports that the central bank and the securities regulator were holding discussions with banks and brokerages about supporting capital markets."}],[{"start":110.84,"text":"The country’s stock markets have been in a prolonged downturn since July amid weak consumer confidence and faltering enthusiasm for some of the country’s technology stocks."}],[{"start":119.68,"text":"BNP’s Bigos added that investors were cautious heading into the US midterm elections this week, noting that relatively low liquidity in markets was magnifying price swings."}],[{"start":130.36,"text":"Energy markets fell during early trading in Asia, with Brent crude, the international oil benchmark, falling 2.5 per cent to $110.55 a barrel."}],[{"start":140.2,"text":"The decline came even as Goldman Sachs raised its end-of-year target price for Brent from $90 a barrel to $105 on risks that the war in Iran would flare up following the midterm elections."}],[{"start":159.52,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793596724_7239.mp3"}