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18 articles summarized · Last updated: LATEST

Last updated: July 16, 2026, 8:30 PM ET

Asia Stocks Follow US Slide on Chipmaker Woes

Asian stocks are poised for a lower open on Friday, tracking a selloff in U.S. chipmakers that weighed on Wall Street. Concerns over whether massive artificial-intelligence investments can justify current valuations fueled the decline, with chipmaker stocks leading the retreat. This sentiment is likely to across the region.

Surgical Robot Maker, Alcoa Cut Guidance

Intuitive Surgical shares tumbled as much as 13% in after-hours trading as growth in the use of its da Vinci surgical robots slowed to its weakest pace in four years. The company's guidance for procedure growth also impacted its outlook. Meanwhile, Alcoa cut its full-year alumina guidance, citing operational issues at its Pinjarra, Australia refinery. The company noted that alumina prices remained stable despite global shipment uncertainties driven by the conflict in Iran.

Yen Faces Downside Risk, Australian Banks Rally

The Japanese yen may slide as far as 170 against the dollar next year, according to the top currency forecaster in Bloomberg's latest rankings. This prediction model and focuses on underlying economic trends. In Australia, the upward march in share prices of the nation's largest banks is reversing a tumble that began two months ago due to property tax changes. This rally is inflicting losses on short sellers who had anticipated a prolonged slump.

Core Logic Seeks to Improve Debt Offering

CoreLogic Inc. is reportedly considering offering sweeter terms on at least a portion of its $5.3 billion debt deal. This comes after the company for the offering. The move aims to improve the attractiveness of the struggling debt sale.

Pension Reform Reversal, IBM Profit Warning

California is, with public unions reportedly using the AI market boom as a justification to enhance benefits. Separately, IBM issued a shocking profit warning, raising questions about its reliance on transparency and whether its CEO can regain investor confidence. The market continues to grapple with swings, with falling chip stocks and rising transports.