Finance

The world's largest asset manager, BlackRock, reported a record $15.3 trillion in assets under management following substantial net inflows of $192 billion in the second quarter. This growth reflects broader strength across the financial sector, where major banks like JPMorgan Chase and Goldman Sachs also reported sharp profit increases. These gains were largely supported by high deal activity, including a blockbuster SpaceX IPO, and robust trading revenue in equities.

Technology and chipmaker stocks saw a significant rebound, led by Dutch equipment supplier ASML, which issued sales and margin forecasts for the third quarter that exceeded analyst expectations. This optimism spread to major Asian memory manufacturers like Samsung and SK Hynix, which both posted gains exceeding 6% in regional trading. The sector continues to be a primary driver of market performance as investors focus on the ongoing buildout of artificial intelligence infrastructure.

The cryptocurrency market responded positively to easing US inflation figures, with Bitcoin surging back above the $65,000 threshold for the first time since late June. Market sentiment improved as geopolitical risk premiums decreased after a reversal of planned shipping fees in the Strait of Hormuz, which also stabilized oil prices. Bitcoin's upward momentum was further supported by nearly $181 million in inflows into various spot ETFs during the most recent session.