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Asian Stocks were mostly lower Tuesday as buying of technology stocks slowed the pace of their recent rally.
Markets showed little reaction to the latest step toward ending the US shutdown, after the Senate passed legislation to reopen the government.
US futures were little changed and oil prices fell.
shares The criticism is that the AI craze has caused tech stock prices to skyrocket, leading some to compare them to the dot-com bubble of the 2000s that eventually burst.
In Tokyo, the Nikkei 225 fell 0.5% to 50,675.92.
The US dollar rose against the Japanese yen to 154.15 from 154.14 yen, near its highest level since February. Expectations that the government will scale back its program to reduce Japan’s huge national debt and boost spending have helped weaken the yen.
The euro rose to $1.1563 from $1.1557.
Chinese shares also declined. Hong Kong’s benchmark Hang Seng index fell 0.2% to 26,595.97 and the Shanghai Composite index fell 0.4% to 4,002.06.
South Korea’s Kospi, recovering from falling below the 4,000 level last week, rose more than 1% early on but closed 0.4% higher at 4,087.56.
Australia’s S&P/ASX 200 fell 0.2% to 8,818.80.
Taiwan’s Taiex fell 0.3%, while India’s Sensex fell 0.4%.
on monday,
Big Tech and other superstars of the US stock market gained momentum again on Monday. wall Street Have recovered most of their losses from last week.
The S&P 500 rose 1.5% to 6,832.43, while the Dow Jones Industrial Average rose 0.8% to 47,368.63.
The Nasdaq Composite rose 2.3% to 23,527.17.
NVIDIA It was the strongest force ever to lift the market, jumping 5.8%. It was a powerful rebound after last week’s decline, led by Nvidia and other winners of the artificial-intelligence technology frenzy. Critics say their stock prices rose too high and too fast in the AI craze, comparing it to the dot-com bubble of the 2000s that eventually burst.
The decline of several health insurers helped keep the market’s gains in check. They fell as uncertainty remains about whether Washington will extend expiring health care tax credits, a sticking point on Capitol Hill that has created the longest-ever shutdown of the U.S. government.
elsewhere wall StreetBerkshire Hathaway slipped 0.4% as its CEO, famed investor Warren Buffett, warned shareholders that Berkshire Hathaway’s sheer size will likely outperform many other companies in the coming decades. Buffett, 95, is scheduled to step down in January.
Tyson Foods climbed 2.3% after the seller of chicken, beef and pork reported stronger-than-expected profit in the latest quarter.
Four out of every five companies in the S&P 500 that have reported their results for the summer so far have also topped analysts’ profit expectations, according to FactSet. Companies typically beat analysts’ estimates each quarter, but this time the pressure was greater as they needed to justify the big jump in their stock prices since April.
Delivering big profits is one of the easiest ways companies can silence criticism that their share prices have become too expensive.
In other deals early Tuesday, U.S. benchmark crude oil fell 25 cents to $59.88 a barrel. Brent crude, the international benchmark, fell 25 cents to $63.81 a barrel.
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AP Business writers Stan Choe and Matt Ott contributed.