{"id":66648,"date":"2026-08-17T02:08:16","date_gmt":"2026-08-17T06:08:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-japan-gdp-growth-and-ai-trade-shifts\/66648\/"},"modified":"2026-08-17T02:08:16","modified_gmt":"2026-08-17T06:08:16","slug":"global-markets-react-to-japan-gdp-growth-and-ai-trade-shifts","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-japan-gdp-growth-and-ai-trade-shifts\/66648\/","title":{"rendered":"Global Markets React to Japan GDP Growth and AI Trade Shifts"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Japan&#39;s economy grew at an annualized rate of 1.1%<\/strong> in the April-June quarter, supported by auto and semiconductor exports despite weak private consumption.<\/li>\n<li><strong>AstraZeneca (<a href=\"\/stock\/AZN\">AZN<\/a>) is discontinuing its eVOLVE-Lung02 Phase III trial<\/strong> for volrustomig in lung cancer, though other Phase III trials for the drug remain on track.<\/li>\n<li><strong>Chinese hedge funds are rotating out of <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> and U.S. hyperscalers, shifting capital toward hardware makers like <a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a> Technology (<a href=\"\/stock\/MU\">MU<\/a>) and <a href=\"https:\/\/stockmarketwatch.com\/stock\/SNDK\" data-internallinksmanager029f6b8e52c=\"19\" title=\"Stock: SNDK\">SanDisk<\/a> ($WDC) in a maturing AI trade.<\/li>\n<li><strong>Norway&#39;s trade surplus surged to 84.3 billion NOK in July<\/strong>, significantly exceeding the previous month&#39;s 61.9 billion NOK.<\/li>\n<li><strong>Russian attacks on Ukrainian energy and port infrastructure intensified<\/strong>, with state-owned Naftogaz reporting 13 strikes over the past week and a Togo-flagged vessel damaged in Odesa.<\/li>\n<\/ul>\n<h2>Japan Economy Navigates Headwinds<\/h2>\n<p>Japan\u2019s real <strong>gross domestic product (GDP)<\/strong> expanded at a seasonally adjusted rate of <strong>0.3%<\/strong> in the second quarter of 2026, translating to an <strong>annualized growth rate of 1.1%<\/strong>. While the growth marks a third consecutive quarter of expansion, it fell short of analyst expectations as <strong>private spending dipped 1.2%<\/strong> amid rising energy costs driven by regional conflicts.<\/p>\n<p>Exports remained a bright spot, growing <strong>0.5%<\/strong> behind strong global demand for Japanese automobiles and semiconductors. Major manufacturers like Toyota Motor (<a href=\"\/stock\/TM\">TM<\/a>) and Honda Motor (<a href=\"\/stock\/HMC\">HMC<\/a>) benefited from this trend, while the burgeoning AI sector continued to fuel demand for advanced chip components.<\/p>\n<h2>AstraZeneca Updates Volrustomig Pipeline<\/h2>\n<p>AstraZeneca (<a href=\"\/stock\/AZN\">AZN<\/a>) announced the discontinuation of its <strong>eVOLVE-Lung02 Phase III trial<\/strong>, which evaluated volrustomig in combination with chemotherapy for metastatic non-small cell lung cancer. The decision followed a recommendation from an <strong>Independent Data Monitoring Committee<\/strong>, which concluded the treatment was unlikely to meet its primary endpoints of progression-free or overall survival.<\/p>\n<p>Despite the setback in lung cancer, the pharmaceutical giant emphasized that other <strong>Phase III volrustomig trials<\/strong> remain on track. These ongoing studies target various conditions, including <strong>cervical cancer, head and neck squamous cell carcinoma, and mesothelioma<\/strong>, as part of the company&#39;s broader oncology strategy.<\/p>\n<h2>Shift in Global AI Investment Strategy<\/h2>\n<p>Top-tier Chinese hedge funds, including <strong>Perseverance Asset Management<\/strong> and <strong>Greenwoods Asset Management<\/strong>, have significantly reduced their holdings in <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) and major U.S. hyperscalers. Filings indicate a <strong>72% reduction<\/strong> in <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> positions by Perseverance, with capital being redeployed into hardware and memory specialists like Micron Technology (<a href=\"\/stock\/MU\">MU<\/a>).<\/p>\n<p>This rotation suggests the &quot;AI trade&quot; is entering a more selective phase, focusing on infrastructure providers and hardware makers rather than just software and platform giants. <em>Market observers note that investors are becoming more demanding regarding the monetization of massive AI capital expenditures.<\/em><\/p>\n<h2>Geopolitical Tensions Impact Energy and Trade<\/h2>\n<p>In Eastern Europe, the state energy giant <strong>Naftogaz<\/strong> reported that Russian forces attacked its facilities <strong>13 times over the past week<\/strong>, targeting production assets and drilling sites to disrupt winter heating preparations. Additionally, a <strong>Togo-flagged civilian vessel<\/strong> was damaged by an overnight strike at a port in Ukraine\u2019s Odesa region, further threatening Black Sea maritime logistics.<\/p>\n<p>Meanwhile, in Northern Europe, <strong>Norway reported a robust trade balance of 84.3 billion NOK for July<\/strong>, up from 61.9 billion NOK in June. In Sweden, the <strong>Origo Group Inflation Expectations Survey<\/strong> showed one-year expectations rising slightly to <strong>1.8%<\/strong>, providing critical data for the Riksbank ahead of its upcoming interest rate decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Japan&#39;s economy grew at an annualized rate of 1.1% in the April-June quarter, supported by auto and semiconductor 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