Japan Strengthens Currency as US Rate Hikes Loom, NVIDIA Invests Big
The US Treasury Secretary, Bessent, urged rate hikes to counterbalance Japan's efforts to strengthen its currency. Japan is taking measures to address yen appreciation, which has risen due to a stronger economy and low interest rates. The Tokyo Stock Market is expected to trend weakly following the decline in US stocks.
NVIDIA announced a $3.5 billion investment in Taiwan-based semiconductor giant MediaTek. This move aims to deepen collaboration on semiconductors for AI data centers and expand NVIDIA's technical standards across the entire AI infrastructure.
Amazon is being sued by the FTC and 22 U.S. states over advertising sales practices, with allegations that it secretly increased minimum prices required to place ads promoting its own products.