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Oracle revenue misses Wall Street estimates amid stiff cloud competition

(Reuters) -Oracle's second-quarter revenue grew less than Wall Street expected on Monday, hit by stiff competition among database and cloud services providers, sending its shares down more than 7% in extended trading. While seeing healthy growth in its cloud segment, Oracle competes with cloud heavyweights such as Microsoft and Amazon, which have established a large presence in the field. Wall Street expectations for AI-linked firms have been high as they bet on the technology to be a strong growth driver in the future.

Chinese Stocks Pare Early Surge Stoked by Policy Optimism

(Bloomberg) -- A rally in Chinese shares ran out of steam, a sign that investors are hoping to see concrete steps from policymakers after their strongest pledge in years to revive economic growth.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectCloud Computing Tax Threatens Chicago’s Silicon Valley AmbitionsNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Bac

Korean Stocks Gain After Losing $100 Billion to Political Crisis

(Bloomberg) -- South Korean equities rose for the first time since last week’s short-lived martial law thrust the country into political turmoil. The won climbed against the dollar. Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return-to-Of

Morning Bid: China policy talk lifts stocks but bonds balk

China's equity markets have chosen to run with the authorities' latest vague promise of support for the sputtering economy, with stocks surging to their highest levels in nearly a month. The state-media readout on Monday from China's Politburo heralded a shift from "prudent" to "moderately loose" monetary policy as well as a desire to boost consumption. Warning signs, or at least more circumspection, seemed evident in China's foreign exchange market, which hardly budged, and bonds, which rallied while pushing yields to record lows - showing doubt over whether growth is really going to pick up.