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Asian stocks falter as global growth fears temper tech boost

  • 📰 Reuters
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 97%

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Asian shares wobbled in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment, despite strong U.S. tech earnings and signs of manufacturing recovery in China and Japan.

FILE PHOTO: A security guard wearing a face mask walks past the Bund Financial Bull statue, following an outbreak of the novel coronavirus disease , on The Bund in Shanghai, China March 18, 2020. REUTERS/Aly Song/File Photo

U.S. GDP collapsed at a 32.9% annualized rate in the second quarter, the deepest decline on record, while jobless claims rose last week, adding to signs the momentum of economic recovery has slowed.

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Don't worry. The US Federal Reserve will shower the Asian markets with liquidity too

Yeah, stocks are right at the top of my worry list.

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Asian stocks set to rise on Big Tech surge, dollar slidesAsian equities were set to rise on Friday after shares of Apple , Amazon and Facebook surged in extended trading on Thursday, with Alphabet also climbing, while the U.S. dollar continued to slide. And with a probable attempt at a presidential coup except it to fall further.
Source: Reuters - 🏆 2. / 97 Read more »