▲ Japan's Chief Cabinet Secretary: "Monitoring FX Market Moves, Including Speculative Trends" (Update)

With the dollar-yen exchange rate breaking above 157, the Japanese government has issued a verbal intervention in the foreign exchange market. Minoru Kihara, Japan's Chief Cabinet Secretary, stated at a regular press briefing on the 20th that recent FX market movements have been "one-sided and rapid," expressing concern. He added, "Authorities will closely monitor the market as the yen continues to weaken against the dollar."


▲ Nvidia: "No Guarantee $100 Billion OpenAI Deal Will Be Finalized"

Nvidia Corp. (NASDAQ: NVDA), the leading AI chipmaker, said there is no guarantee that its $100 billion investment plan with OpenAI, the developer of ChatGPT, announced last September, will be completed. In its Q3 earnings report released on the 19th (local time), Nvidia disclosed in its 10-Q filing that "there is no assurance that a final agreement will be reached with OpenAI, nor with other potential investments." The company added, "There is no guarantee that any investment will be completed on the expected terms, or at all."


▲ Retail Investors Cut Losses as 'Whales' Accumulate Amid Bitcoin Crash

As Bitcoin prices plunged, retail investors accelerated selling at a loss, while so-called 'whales'—large holders—were seen accumulating Bitcoin. According to CoinMarketCap on the 19th (US local time), Timothy Misir, Head of Research at BRN Research, said, "Recently, about 31,800 Bitcoins were moved to exchanges at a loss, indicating that retail investors are selling assets out of fear." In contrast, wallets holding over 1,000 Bitcoins increased by 2.2%—the fastest pace in four months—suggesting that large investors are absorbing the sell-off and increasing the number of wallets with over 1,000 Bitcoins.


▲ Trump Slams Fed HQ Renovation Costs—"Like Building a Basement in the Potomac"

Former US President Donald Trump has again sharply criticized the renovation costs of the Federal Reserve's headquarters. According to Fox Business on the 19th (local time), Trump said at the US-Saudi Investment Forum at the Kennedy Center, "They're spending $4 billion to renovate a building that should cost $25 million," likening the project to "building a basement in the Potomac River." He added, "It's a really tough and unsuccessful project, and the costs are enormous. Now it's up to $4 billion. This 'clown' is leading it," he said.


▲ Japanese AI and Semiconductor Stocks Surge on Nvidia's Strong Earnings

Nvidia's (NASDAQ: NVDA) Q3 earnings beat market expectations, fueling a sharp rally in AI and semiconductor stocks on the Japanese market. According to Yonhap Infomax's global stock index screen (6511) on the 20th (local time), the Nikkei 225 index jumped 3.61% to 50,290.42 following Nvidia's results. AI-related stocks such as SoftBank Group (SBG) surged 6.22% from the previous session.


▲ China Holds 1-Year LPR at 3.0%, 5-Year at 3.5% (Update)

The People's Bank of China (PBOC) kept its Loan Prime Rate (LPR)—effectively the benchmark lending rate—unchanged for both short- and medium-term maturities. On the 20th, the PBOC announced it would maintain the 1-year LPR at 3.0% and the 5-year LPR, the benchmark for mortgage loans, at 3.5%, in line with market expectations. The PBOC has held rates steady since cutting both by 10 basis points in May this year.


▲ Jefferies: "Equity Selloff Could Soon Reverse Into New Rally"

US investment bank Jefferies predicts that the recent equity selloff could soon reverse into a new rally. According to Business Insider (BI) on the 19th (local time), Jefferies cited several indicators, noting that the S&P 500 put-to-call ratio has reached its highest level in months, suggesting unusually bearish investor sentiment. This ratio compares the number of put options (which protect against downside risk) to call options (which profit from upward moves) bought on the index.


▲ BlackRock Bitcoin ETF Sees Record Outflows Amid Crypto Slump

BlackRock's (NYSE: BLK) Bitcoin exchange-traded fund (ETF) saw record outflows amid the recent crypto downturn. According to CoinMarketCap on the 19th (US local time), the iShares Bitcoin Trust (NASDAQ: IBIT) saw $523.15 million withdrawn in a single day on the 18th, surpassing the previous record outflow of $463 million set on the 14th.


▲ S&P 500 Futures Rise on Nvidia Earnings; US Treasury Yields Climb

On the morning of the 20th in Asia, US equity index futures rose on Nvidia's (NASDAQ: NVDA) better-than-expected earnings, while US Treasury yields climbed. According to Yonhap Infomax's index futures screen (screen no. 6520), as of 09:28 KST, E-mini S&P 500 futures were up 1.20% at 6,741.25, and tech-heavy E-mini Nasdaq 100 futures rose 1.70% to 25,141.25.


▲ Japan 10-Year JGB Yield Surges Past 1.80%—Highest Since 2008 (Update)

The yield on Japan's 10-year government bond rose to its highest level in nearly 17 years. On the 20th, the 10-year JGB yield climbed more than 3.5 basis points intraday to break above 1.80%, the highest since June 2008. The 5-year JGB yield also topped 1.30%, marking its highest level since 2008.


▲ MP Materials to Build Rare Earth Refinery in Saudi Arabia; Shares Jump 8%

US rare earth mining company MP Materials (NYSE: MP) has signed a binding agreement to build a rare earth refining plant in Saudi Arabia through a three-way partnership with the US Department of Defense and Saudi state mining company Ma'aden. According to CNBC on the 19th (US local time), MP Materials and the US Department of Defense will jointly hold a 49% stake in the joint venture, while Ma'aden will own more than 51%. The US side's investment will be fully funded by the Department of Defense, with MP Materials providing marketing and technology.


▲ Nikkei Soars Over 3% at Open on Yen Weakness, Nvidia Earnings (Update)

On the 20th, Japan's Nikkei index surged at the open, regaining the 50,000 level, buoyed by yen weakness and Nvidia's strong earnings. As of 09:14, the large-cap export-heavy Nikkei index was up 1,736.65 points (3.58%) at 50,274.35. The TOPIX index rose 75.52 points (2.33%) to 3,321.10.


▲ Block Projects Strong Gross Profit Growth, Profitability; Shares Up 7%

Fintech company Block (NYSE: XYZ) announced at its first Investor Day since 2022 that it expects robust gross profit growth and improved profitability over the next three years. According to CNBC, Block projects mid-teens annual gross profit growth through 2028, reaching about $15.8 billion, and adjusted operating profit to grow about 30% annually, surpassing $4.6 billion in 2028.


▲ Dollar-Yen Breaks Above 157 on FOMC Minutes, Nvidia Earnings

The dollar-yen exchange rate entered the 157 range. According to Yonhap Infomax (screen no. 6411), as of 08:35, the dollar-yen was trading at 157.040, up 0.05% from the previous session. After briefly topping 157 in New York, the pair re-entered the 157 range in Tokyo, reaching an intraday high of 157.179—the highest in 10 months since mid-January.


▲ Jensen Huang: "AI Bubble Concerns Overstated—Our Perspective Is Different" (Update)

Nvidia CEO Jensen Huang said, "There is much debate about an AI bubble, but our perspective is very different." Speaking at the company's earnings call on the 19th (local time), Huang emphasized, "Nvidia is different from other accelerators," and "Nvidia demonstrates outstanding capabilities at every stage of AI, from pre-training and post-training to inference."


▲ Palo Alto Networks Drops 4% After-Hours on M&A, Financial Concerns

Cybersecurity firm Palo Alto Networks (NASDAQ: PANW) reported earnings that beat Wall Street expectations but fell in after-hours trading after announcing plans to acquire cloud observability platform Chronosphere. According to CNBC on the 19th (US local time), Palo Alto Networks posted Q1 FY2026 revenue of $2.47 billion, slightly above the consensus of $2.46 billion, with EPS of $0.93 versus the expected $0.89.


▲ xAI to Become First Customer of Nvidia-Powered Saudi Data Center

A large-scale data center under construction in Saudi Arabia will have Elon Musk's xAI as its first customer. According to CNBC on the 19th (local time), Nvidia and xAI announced, "The data center will be equipped with hundreds of thousands of Nvidia (NASDAQ: NVDA) chips." Musk and Nvidia CEO Jensen Huang attended the US-Saudi Investment Forum in Washington, D.C.


▲ Dan Ives: "AI Bubble Fears Overblown—Nvidia Pops Champagne" (Update)

Wedbush's Dan Ives described Nvidia's earnings as "popping champagne." According to Business Insider (BI) on the 19th (local time), Ives, Head of Technology Research, said, "Fears of an AI bubble are exaggerated." He added, "In recent weeks, concerns about an AI bubble have heightened, putting pressure on tech stocks, but tonight the market and tech sector are celebrating Nvidia's strong results and outlook."


▲ Analysts React to Nvidia's 'Blockbuster' Earnings

Nvidia (NASDAQ: NVDA) beat market expectations for both Q3 FY2026 results (August–October) and Q4 guidance, prompting strong reactions from analysts. According to Business Insider (BI) on the 19th (local time), Thomas Monteiro, Chief Analyst at Investing.com, said, "Nvidia's results clearly show that the AI revolution has not yet peaked, both in terms of market demand and supply chains." He added, "Despite investor concerns about increased capex potentially slowing AI adoption, Nvidia continues to prove that data center expansion remains a top priority for tech companies."

(End)

All content has been translated by AI.
Copyright © Yonhap Infomax Unauthorized reproduction and redistribution prohibited.