ASX set to slide, Wall Street boosted by tech stocks; Warsh narrowly confirmed as new Fed chair

AI leads stocks higher, SK Hynix not far from $1 trln market cap

Wall Street was mixed in premarket trading Wednesday as oil prices steadied and the technology sector appeared ready to bounce back from widespread losses to start the week.

The S&P 500 hovered near record highs on Wednesday as gains in chipmakers and megacap technology stocks helped support Wall Street, even as stronger-than-expected producer prices reinforced expectations that the Federal Reserve could maintain a restrictive monetary policy stance for longer.

Asia-Pacific markets traded mixed Thursday as investors look to a high-stakes meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of U.S.-China ties and global trade.