Asian markets rise as beaten tech stocks enjoy respite from selling
- HONG KONG: Asian stocks rose on Friday (Jul 3) as tech firms enjoyed a much-needed reprieve from the heavy selling of recent weeks, with a big miss on US jobs creation soothing worries over a Federal Reserve interest rate hike.
- Regional markets have been in traders' firing line for some time as the prospect of higher borrowing costs - fuelled by a fresh inflation spike - and concerns about extended valuations have sparked questions about how far the AI equity boom has to run.
- That has seen chip firms such as South Korea's SK hynix and Japan's Kioxia plunge from record highs, along with benchmark
Unverified
- HONG KONG: Asian stocks rose on Friday (Jul 3) as tech firms enjoyed a much-needed reprieve from the heavy selling of recent weeks, with a big miss on US jobs creation soothing worries over a Federal Reserve interest rate hike.
- Regional markets have been in traders' firing line for some time as the prospect of higher borrowing costs - fuelled by a fresh inflation spike - and concerns about extended valuations have sparked questions about how far the AI equity boom has to run.
- That has seen chip firms such as South Korea's SK hynix and Japan's Kioxia plunge from record highs, along with benchmark
Sources: CNA