Asian markets opened lower as oil prices inched up, with investors closely monitoring US-Iran peace talks. Despite positive initial reports on negotiations, conflicting statements from both sides have created uncertainty. Concerns are also mounting over the sustainability of the AI rally, with significant drops in tech stocks like SpaceX, as companies engage in massive borrowing for AI initiatives.
KPIT Tech plunges 24% in 3 months as auto demand weakens
KPIT Technologies faces a substantial 24% decline in stock value, predominantly due to obstacles in the automotive sector. The company’s net profit has notably decreased,