Asia Stocks Drop on Broadcom Outlook, SpaceX Record IPO

About this episode

Asian stocks fell as Broadcom's weak forecast impacted global equities, while SpaceX plans a historic IPO.

Business and finance news from the Asia-Pacific. Asian stocks fell alongside US equity-index futures as the AI-fueled rally that powered global equities to record highs lost momentum after a weak forecast from Broadcom. Asian losses followed a pullback on Wall Street, where the S&P 500 snapped a nine-day winning streak as renewed US-Iran clashes damped risk appetite. Some relief emerged early Thursday after the US announced a ceasefire between Israel and Lebanon, helping Brent crude halt a three-day rally. For more on the markets, we speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus -  SpaceX is seeking to raise $75 billion in an initial public offering that would be the biggest of all time, as Elon Musk's rocket, satellite and artificial intelligence company targets a historic debut that could clear a path for more mega-listings. The Starbase, Texas-based company plans to market about 555.6 million shares for $135 each, according to its filing Wednesday with the US Securities and Exchange Commission. At that price, SpaceX would have a market value of almost $1.77 trillion based on the outstanding shares in the filing. Bloomberg TV hosts Haidi…

People in this episode

Hosts: Haidi Stroud-Watts, Shery Ahn

Guests: Paul Dobson, Sylvia Jablonski

Topics covered

• Asia stocks
• Broadcom outlook
• SpaceX IPO
• US equity markets
• AI-fueled rally
• Brent crude

Keywords

• Asia-Pacific
• stocks
• Broadcom
• SpaceX
• IPO
• Elon Musk
• market value
• Brent crude
• US-Iran
• ceasefire

Mentioned in this episode

Organizations: SpaceX, Defiance ETF

Places: Israel, Lebanon, Texas

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