HONG KONG: Asian markets rallied on Monday (Dec 22) and gold hit a record high as the latest round of United States data boosted hopes for more interest rate cuts, while worries over AI spending also

Asian markets rallied Monday and gold hit a record high as the latest round of US data boosted hopes for more interest rate cuts, while worries over AI spending also subsided. Gold, which benefits from lower US interest rates, hit a fresh record above $4,388, while silver also struck a new peak.

Asian markets dropped Monday as concerns about the AI-fuelled tech rally returned to the spotlight after weak earnings from two big-name firms last week revived questions about the wisdom of the vast sums invested in the sector. Those concerns were compounded last week following disappointing earnings from sector giants Oracle and Broadcom.

Asian markets dropped Monday as concerns about the AI-fuelled tech rally returned to the spotlight after weak earnings from two big-name firms last week revived questions about the wisdom of the vast sums invested in the sector. Those concerns were compounded last week following disappointing earnings from sector giants Oracle and Broadcom.