- The key driver behind today's declines in Asian markets is concern over the US Federal Reserve's delayed response to cutting interest rates, following weaker-than-expected US jobs data. The data has raised fears that the Fed might have waited too long to ease monetary policy, increasing the risk of a recession.
- In Japan, the yen’s recent strength has also weighed on exporters, while China continues to struggle with sluggish economic growth. Additionally, investor optimism around tech stocks, especially in the chip sector, has waned, contributing to the selloff in tech-heavy markets such as Japan, Taiwan, and South Korea. Broader concerns about global economic health, including the ongoing challenges in China and fading investor euphoria for sectors like AI, have added to market volatility.
- Looking at Korean equity flows, there has been decent selling in tech stocks with a total outflow from foreign investors of $345m today, $336m of that from tech stocks.
- Japanese equities are recovering from morning lows, with the Nikkei now down just 0.80%.Tokyo Electron is now 3% off earlier lows, while Fast Retailing is testing session highs and up 2.10% from earlier lows.
- US equity futures are higher, with the Nasdaq 100 eminis are 0.60% higher, while S&P 500 eminis are 0.40% higher.
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ASIA STOCKS: Asian Equities Off Earlier Lows, Tech Continues to Struggle
Last updated at:Sep-09 05:14By: Sam Hunter
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- The key driver behind today's declines in Asian markets is concern over the US Federal Reserve's delayed response to cutting interest rates, following weaker-than-expected US jobs data. The data has raised fears that the Fed might have waited too long to ease monetary policy, increasing the risk of a recession.
- In Japan, the yen’s recent strength has also weighed on exporters, while China continues to struggle with sluggish economic growth. Additionally, investor optimism around tech stocks, especially in the chip sector, has waned, contributing to the selloff in tech-heavy markets such as Japan, Taiwan, and South Korea. Broader concerns about global economic health, including the ongoing challenges in China and fading investor euphoria for sectors like AI, have added to market volatility.
- Looking at Korean equity flows, there has been decent selling in tech stocks with a total outflow from foreign investors of $345m today, $336m of that from tech stocks.
- Japanese equities are recovering from morning lows, with the Nikkei now down just 0.80%.Tokyo Electron is now 3% off earlier lows, while Fast Retailing is testing session highs and up 2.10% from earlier lows.
- US equity futures are higher, with the Nasdaq 100 eminis are 0.60% higher, while S&P 500 eminis are 0.40% higher.
Related by topic
APAC
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