Asia markets traded mixed Thursday as investors reacted to a sell-off in tech names on Wall Street and news of Intel seeking investment from Apple. TaiwanS Taiex was near flat, though heavyweight taiwan Semiconductor Manufacturing Company (TSMC) fell 0.75%. The move followed a Bloomberg report detailing Intel’s attempt to secure funding from Apple as part of a broader comeback strategy.
Apple previously relied on Intel chips for its personal computing devices before transitioning to TSMC with the launch of its M1 chip in 2020. While Intel is seeking investment, Bloomberg reported Apple is unlikely to revert to using Intel chips. Elsewhere,Japan’s Nikkei 225 rose 0.17% and the Topix gained 0.47%, while Australia’s S&P/ASX 200 slipped 0.14%.
U.S. stock futures were little changed as investors await the release of weekly jobless claims data, a key indicator that could influence Federal Reserve monetary policy amid concerns about a weakening labor market and increasing layoffs.Overnight, the S&P 500 dropped 0.28% to 6,637.97, the Nasdaq Composite fell 0.34% to 22,497.86, and the Dow jones Industrial Average declined 0.37% to 46,121.28.