Wednesday, September 09, 2026 — AI chip rally, 10-year Treasury yields near 5%, and NSE’s IPO cut are the three forces shaping Asia’s open.

The AI-chip bid is broad: $MRVL soars, $QCOM jumps 9% on an AI chip deal with $AMZN and hits a 2-month high. Demand is spreading beyond the usual winner. Seoul shares open higher on chip gains despite Middle East tensions. That’s a good signal — semis are trading like AI demand beats headline risk. Treasury yields creeping toward 5% and five pressure points to watch. The issue is the risk-free rate compressing long-duration tech, even with AI momentum. Oil’s climb to $100 pushes rupee lower. Imported inflation, less RBI room, tighter margins for Indian equities — this is the macro overhang. Nifty’s next rally needs two battered warhorses to wake up. Watch which heavy sector catches first; if neither moves, the index stays rangebound. NSE may cut IPO size to Rs 25,000 crore from Rs 30,000 crore — roughly $1.3BN less paper. Eases supply overhang but signals weaker pricing appetite for large deals. Xi and Putin send solidarity messages to Kim on North Korea’s founding anniversary; Modi an

The AI-chip bid is broad: $MRVL soars, $QCOM jumps 9% on an AI chip deal with $AMZN and hits a 2-month high. Demand is spreading beyond the usual winner.