Asia Financial on Nostr: Nikkei Dips on Tech Earnings, Yen Rally; EVs Weigh on Hang Seng ========== Asian ...
Nikkei Dips on Tech Earnings, Yen Rally; EVs Weigh on Hang Seng
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Asian stocks, including Japan's Nikkei share average, retreated due to lackluster earnings from US tech companies Tesla and Alphabet. The yen's rally impacted big exporters in Japan. The Nikkei fell 1.11% to a one-month closing low of 39,154.85, marking its longest losing streak since October 2021. Chinese stocks also struggled due to weak economic data and the looming US election risks. The Shanghai Composite index dipped below the crucial 2,900 mark. Hong Kong stocks, particularly electric vehicle makers, experienced declines following Tesla's disappointing second-quarter results. The Hang Seng Index lost 0.91%. The dour mood is expected to move to Europe, with Eurostoxx 50 futures down 0.65%, German DAX futures down 0.44%, and FTSE futures 0.3% lower. Investors are awaiting US GDP data and PCE data to gauge expectations of interest rate cuts this year. The dollar index is little changed at 104.41. Oil prices rose on easing US crude inventories.
#Nikkei225 #HangSengIndex
https://www.asiafinancial.com/nikkei-dips-on-tech-earnings-yen-rally-evs-weigh-on-hang-seng
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Asian stocks, including Japan's Nikkei share average, retreated due to lackluster earnings from US tech companies Tesla and Alphabet. The yen's rally impacted big exporters in Japan. The Nikkei fell 1.11% to a one-month closing low of 39,154.85, marking its longest losing streak since October 2021. Chinese stocks also struggled due to weak economic data and the looming US election risks. The Shanghai Composite index dipped below the crucial 2,900 mark. Hong Kong stocks, particularly electric vehicle makers, experienced declines following Tesla's disappointing second-quarter results. The Hang Seng Index lost 0.91%. The dour mood is expected to move to Europe, with Eurostoxx 50 futures down 0.65%, German DAX futures down 0.44%, and FTSE futures 0.3% lower. Investors are awaiting US GDP data and PCE data to gauge expectations of interest rate cuts this year. The dollar index is little changed at 104.41. Oil prices rose on easing US crude inventories.
#Nikkei225 #HangSengIndex
https://www.asiafinancial.com/nikkei-dips-on-tech-earnings-yen-rally-evs-weigh-on-hang-seng