Asia stocks find some footing, Nikkei still choppy

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Asia stocks find some footing, Nikkei still choppy

SYDNEY - Asian share markets were mostly firmer on Wednesday after Wall Street bounced and concerns about a U.S. recession were reassessed, though Japanese stocks took a dip as heightened volatility squeezed leveraged positions.'s drop of 0.6% was relatively minor compared with Monday's 13% dive and Tuesday's 10% rally, leading to hopes investors were finding their footing.

The GPIF is a massive fund with considerable market power and its investment decisions are highly influential. After bouncing overnight, Nasdaq futures eased 0.1% in part due to a 12% dive in AI darling Super Micro Computer (NASDAQ: Futures now imply 105 basis points of easing this year, compared with 125 basis points at one stage during Monday's turmoil, while a 50-basis-point cut in September seen as a 73% chance.

In commodity markets, gold prices were holding at $$2,386 an ounce and short of last week's $2,477 top.

 

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