A Deepened Tech Sell-Off Drags Asian Stocks Lower as Markets in South Korea and Japan Sink
- Asian markets opened lower on Thursday as hotter-than-expected US consumer price inflation increased expectations for Federal Reserve interest rate hikes, pressuring regional stocks.
- The US consumer price index rose 3.7% year-on-year in September, exceeding forecasts and sparking Wednesday's Wall Street decline that rippled through global markets.
- Technology shares led the selloff, with South Korea's KOSPI plunging 5.6% and major chipmakers SK Hynix and Kioxia Holdings dropping 11.4% and 11.2% respectively.
- Investor attention now shifts to speeches from Federal Reserve officials in Bangkok, including Chair Kevin Warsh, for clues on the central bank's next policy move.
- Fed funds futures now price a 31.6% probability of a 25-basis-point hike at the October 28 meeting, while the 10-year Treasury bond yield fell 4.4 basis points.
83 Articles
83 Articles
South Korea's KOSPI triggers circuit breaker in tech-led selloff
The Asian Stock Exchanges close in strong decline, in wake with Wall Street and after the figure on American inflation, higher than expected, which feeds fears of a new rise in rates, triggering sales on semiconductor securities, already under pressure from the... (ANSA)
Concerns about new Fed rate hikes and AI funding spark wave of liquidations
Reformatorisch Dagblad
welingelichtekringen.nlStock markets in South Korea and Japan fell sharply on Thursday. Chip companies, in particular, were sold off following the heavy losses in the US chip sector on Wednesday. Chip stocks have risen sharply in value this year thanks to high demand for chips for artificial intelligence (AI) applications.
A wave of sharp selling swept through Asian stock markets after the US inflation data, the South Korean stock market fell nearly 8 percent, chip manufacturers' papers were hit. In addition to interest rate hike fears and Middle East tensions, investors are paying attention to other important US macro data today. We will also cover similar topics at our Portfolio Investment Day conference on October 21. One of the biggest investment events of the…
Good morning! In the late hours of Dutch Wednesday, a toxic cocktail formed in the United States that led to the worst stock market day there since…
Coverage Details
Bias Distribution
- 43% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
