Investing.com UK on Nostr: Asian stocks sink as tech profit-taking overshadows rate cut cheer ========== Most ...
Asian stocks sink as tech profit-taking overshadows rate cut cheer
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Most Asian stocks retreated on Friday, with technology-heavy indexes seeing steep losses as the sector was slammed by profit-taking even as soft U.S. inflation data ramped up optimism over interest rate cuts. U.S. stock futures were steady in Asian trade, as focus turned to the start of the second-quarter earnings season, with a slew of heavyweight banks set to report on Friday. Tech-heavy indexes in Asia, which had mostly outpaced their regional peers in recent weeks, clocked the heaviest losses on Friday. Nikkei 225 was emblematic of this trend, slumping 2.2% from record highs hit on Thursday. Hong Kong-listed Chinese tech majors such as Xiaomi Inc, Alibaba Group Holding Ltd, and Tencent Holdings Ltd rose over 2% each, which helped the Hang Seng index rally 2%. ASX 200 outperformed its Asian peers, rising 0.9% to a record high of 7,969.10 points.
#AsianStocks #TechnologySector #Profittaking #InterestRateCuts
https://uk.investing.com/news/stock-market-news/asian-stocks-sink-as-tech-profittaking-overshadows-rate-cut-cheer-3587492
==========
Most Asian stocks retreated on Friday, with technology-heavy indexes seeing steep losses as the sector was slammed by profit-taking even as soft U.S. inflation data ramped up optimism over interest rate cuts. U.S. stock futures were steady in Asian trade, as focus turned to the start of the second-quarter earnings season, with a slew of heavyweight banks set to report on Friday. Tech-heavy indexes in Asia, which had mostly outpaced their regional peers in recent weeks, clocked the heaviest losses on Friday. Nikkei 225 was emblematic of this trend, slumping 2.2% from record highs hit on Thursday. Hong Kong-listed Chinese tech majors such as Xiaomi Inc, Alibaba Group Holding Ltd, and Tencent Holdings Ltd rose over 2% each, which helped the Hang Seng index rally 2%. ASX 200 outperformed its Asian peers, rising 0.9% to a record high of 7,969.10 points.
#AsianStocks #TechnologySector #Profittaking #InterestRateCuts
https://uk.investing.com/news/stock-market-news/asian-stocks-sink-as-tech-profittaking-overshadows-rate-cut-cheer-3587492