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Brutal selling of tech stocks in Asia
Croatia📈 EconomyCenter5 hr. ago

Brutal selling of tech stocks in Asia

The Asian technology stock market experienced significant declines, with the MSCI index dropping by 1% after a previous 3.6% fall, signaling a potential monthly loss of 8%. The Tokyo Nikkei fell 2.86%, while South Korea's KOSPI dropped 5%, reaching its lowest level in three months despite strong earnings from SK Hynix. Analysts note investor caution due to Federal Reserve decisions, poor performance of tech giants like Alphabet and Tesla, and uncertainty around returns from AI investments. Investors remain hesitant to act ahead of the Fed's interest rate decision, leading to subdued currency movements. The U.S. dollar index remains at a high level, with the yen hitting a 40-year peak against the dollar.

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tportal logotportalIndependentCenter5 hr. ago
Brutal selling of tech stocks in Asia

The Asian technology stock market experienced significant declines, with the MSCI index dropping by 1% after a previous 3.6% fall, signaling a potential monthly loss of 8%. The Tokyo Nikkei fell 2.86%, while South Korea's KOSPI dropped 5%, reaching its lowest level in three months despite strong earnings from SK Hynix. Analysts note investor caution due to Federal Reserve decisions, poor performance of tech giants like Alphabet and Tesla, and uncertainty around returns from AI investments. Investors remain hesitant to act ahead of the Fed's interest rate decision, leading to subdued currency movements. The U.S. dollar index remains at a high level, with the yen hitting a 40-year peak against the dollar.

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