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Japanese Stocks Tumble, Selloff in Tech Extends
Japanese stocks plunged for a second day on expectations for further monetary tightening in the country, exacerbating a global selloff following weak US economic data and tech earnings. The Topix index fell as much as 5.7%, as the yen traded near its strongest since March to weigh on Japan’s export-oriented economy. Shares also dropped across Asia from South Korea to Hong Kong, with AI chipmaker SK Hynix Inc. tumbling 8.7%. US futures declined too. Meantime, Treasuries extended a rally in Asia, with the policy-sensitive two-year yields touching a 14-month low amid increased bets on rate cuts by the Federal Reserve ... (full story)
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- Posted: Aug 1, 2024 10:07pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,216
