US stocks were set to open higher on Monday after suffering their biggest weekly drop since President Donald Trump's "liberation day" tariff announcements in April last year. Futures for the tech-heavy Nasdaq 100 index were up 1 per cent, while those for the broad-based S&P 500 rose 0.5 per cent during morning trading in London. Analysts said investors were taking stock following an AI sell-off on Friday that took the Nasdaq 100 down 5.5 per cent for the week amid fears of wider credit spreads at AI data centre companies.
The relief on Monday was also felt in Asia, where South Korea's Kospi, dominated by AI chipmakers Samsung Electronics and SK Hynix, rose 1.8 per cent after ending last week down 11 per cent. Oil prices slipped, with international benchmark Brent crude down 1.3 per cent to $108.45 a barrel. Prashant Bhayani, chief investment officer for Asia at BNP Paribas Wealth Management, said the bounceback occurred because there was no intensification of the Iran war over the weekend in a material way.
Source: Financial Times Markets · Summarized by HeadlinesBriefing