Page 377 - Bkr News Today

Asian stocks slipped on Wednesday with new regulatory worries sparking the steepest sell-off in seven weeks for Chinese tech shares, while short-term Treasury yields spiked as investors wagered on inflation pulling forward interest rate rises.

Nvidia suffered a setback on Wednesday as EU antitrust regulators opened a full-scale investigation into its $54 billion bid for British chip designer ARM on concerns the deal could lead to higher prices, less choice and reduced innovation.

The dollar was being quoted at around 172.80

President Joe Biden said on Wednesday the United States would stand with Southeast Asian allies in defending freedom of the seas, democracy and human rights and backed efforts to hold the Myanmar junta accountable to its commitments to peace.

EU antitrust regulators opened on Wednesday a four-month long investigation into Nvidia's $54 billion bid for British chip designer ARM, saying the deal could lead to higher prices, less choice and reduced innovation.

A summit of Southeast Asian leaders got underway on Tuesday without a Myanmar representative, after its junta leader was excluded for failure to follow a regional peace deal and the ruling military refused to send junior representation.

A Seoul court fined Samsung Electronics Co Ltd Vice Chairman Jay Y. Lee 70 million won ($59,461.62) plus a fee for unlawful use of a controlled substance, Yonhap reported on Tuesday.

South Korea's economy grew at a slower-than-expected pace in the third quarter, as subdued private consumption and weak construction and facility investment offset robust exports.

The United States and Indonesia on Tuesday called for the launch of a forum to prepare for future pandemics, urging members of the Group of 20 leading economies to seize an opportunity this month to plan for an international response system.

A look at the day ahead from Sujata Rao