Despite a decent rally on Wall Street, Asian stocks are poised for an early decline on Friday as traders increasingly speculate that the Bank of Japan (BOJ) is nearing the end of its negative interest rate policy (NIRP). With the Yen surging, futures contracts in Japan have predictably fallen as exporters recoil. And equities across the regions are slipping as investors take a cautious stance ahead of the U.S. payrolls data.
Traders have their ears and eyes peeled for any clarification from BOJ Governor Kazuo Ueda after his recent comments hinted at a more challenging environment, fueling speculation of a possible end to NIRP.
Despite a 1% dip the day before after AMD unveiled new AI processors to compete with Nvidia, AMD shares rebounded strongly, rising nearly 10% by the close. This positive momentum in chip stocks supported U.S. futures and contributed to efforts to put a floor under the market. The semiconductor industry has been characterized by intense competition and technological advancements, with companies like AMD making strategic moves to gain market share in the AI processor space. The volatility and rapid developments in this sector often affect investor sentiment and market dynamics.
