Chipmakers Extend Decline, Leapmotor Earnings

Business and finance news from the Asia-Pacific. Asian equities declined as investors cut exposure to technology shares ahead of earnings this week that will test confidence in the artificial intelligence trade. The MSCI Asia Pacific equities gauge slipped 0.5%, with South Korean chip bellwethers SK Hynix Inc. and Samsung Electronics Co. contributing most to the decline. The losses followed a selloff in semiconductor giants on Wall Street that dragged the Nasdaq 100 Index down nearly 1% on Monday, while Nvidia Corp. posted its longest losing streak since 2022. We speak to Mark Cudmore, Global Leader of the Markets Live Team at Bloomberg News. Plus - Leapmotor posted reported a strong first half profit due to surging sales but the company's net income missed analyst estimates. Bloomberg's Yvonne Man and David Ingles spoke to Co-President Michael Wu. See omnystudio.com/listener for privacy information.