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Summary
Nasdaq 100 futures slipped 1.3% in Asian trading Thursday after split Tesla and Meta results, per The Edge Malaysia.
Treasuries rallied on haven demand, sending the 30-year yield to 5.38%, its lowest since September 23, per The Edge Malaysia.
SoftBank Group dropped more than 5% as Asian tech stocks slid, and the FTSE 100 opened almost 70 points lower, per The Market Reporter.
Gotrade News - Nasdaq 100 futures slipped 1.3% and S&P 500 futures dropped 0.7% in Asian trading Thursday after split results from Tesla (TSLA) and Meta Platforms (META) revived doubts about the AI trade, according to The Edge Malaysia. Treasuries rallied on haven demand as Asian chip stocks slid.
"Markets are basically telling us we are moving on from trading AI vibes and narrative to now requiring a pretty high bar for what an earnings beat looks like," Kaanhari Singh, Asia-Pacific head of equity derivatives sales at Barclays, said on Bloomberg TV, as quoted by The Edge Malaysia. The outlet noted that the Nasdaq 100 lost 5.5% last week, its steepest weekly decline since April 2025.
The table below, built from The Edge Malaysia's report, shows the after-hours moves in Tesla, Meta and Lam Research (LRCX).
After-hours move (The Edge Malaysia, Oct. 21 extended trading)
Catalyst
TSLA
-3.3%
Cut its capital-spending forecast
META
+2.2%
Boosted its AI spending outlook
LRCX
-7.4%
Weaker-than-expected earnings forecast
Tesla (TSLA) Falls 3.3% After Capex Forecast Cut
Tesla shares dropped 3.3% in post-market trading after the company cut its capital-spending forecast, according to The Edge Malaysia. As reported by IOL, Tesla also announced lower profits for July to September. "It frets when companies ramp spending, and it frets when they pull it back, as we have just seen with Tesla," said Tim Waterer, chief market analyst at KCM Trade, per The Edge Malaysia.
Meta (META) Rises on Bigger AI Spending Outlook
Meta Platforms rose 2.2% after hours as the company lifted its AI spending outlook, The Edge Malaysia reported. Per IOL, the mixed after-hours releases from Meta and Tesla muddied the waters again for investors. "Meta's numbers reinforce the AI investment cycle, but funding is becoming an increasingly important part of the conversation," said Pepperstone's Chris Weston, as quoted by IOL.
Lam Research (LRCX) Slides 7.4% on Weak Forecast
Lam Research fell 7.4% in extended trading after a weaker-than-expected earnings forecast, according to The Edge Malaysia. IOL reported that the forecast added to the unease among investors.
Treasuries climbed across the yield curve on Thursday as doubts about the AI trade drove investors toward havens, per The Edge Malaysia. In Asian trading, the 30-year yield dropped three basis points to 5.38%, its lowest since September 23, and the 10-year yield declined four basis points to 5.08%. Brent crude climbed 1.7% to around $110.70 a barrel after deadly attacks in Saudi Arabia, the outlet reported.
Kospi, Nikkei Slide as SoftBank Drops Over 5%
The Kospi index in Seoul fell more than 3% and Tokyo's Nikkei 225 was off 2.7%, according to IOL. In Tokyo, SoftBank Group dropped more than 5% and Tokyo Electron fell almost 6%, as reported by The Market Reporter. China's CSI 300 fell 1.3% and was set for a bear market, per The Edge Malaysia.
FTSE 100 Opens Almost 70 Points Lower
The FTSE 100 opened almost 70 points in the red, led lower by the mining sector, according to The Market Reporter. The outlet said London had been set for a weaker start as a wave of profit-taking in technology stocks swept across Asian markets despite a positive overnight lead from Wall Street.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
