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Asian Stocks Track US Tech Fall, Yen Surges: Markets Wrap
Equities in Asia declined as investors began pulling back on the artificial-intelligence frenzy that has powered the bull market this year. The yen rose for a fourth day ahead of next week’s Bank of Japan meeting. The MSCI Asia Pacific Index declined 1.5% to the lowest since last month, as Japan’s Nikkei 225 Stock Average headed for a technical correction. South Korea’s benchmark lost nearly 2%, with chipmaker SK Hynix Inc. tumbling as much as 8.9% even after an earnings beat. In the US, the S&P 500 slumped 2.3%, its worst showing since December 2022. “There seems to be a broad reassessment on the cost and ... (full story)
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- Posted: Jul 25, 2024 1:07am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,755
