Stock market today: Asian shares mostly fall as dive for Big Tech stocks hits Wall St rally

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Asian shares are mostly lower, with Tokyo's benchmark dipping more than 2%, after Wall Street’s record-breaking rally slammed into a wall of worries over potentially worsening trade tensions with China. Shares fell in the rest of Asia, except for Hong Kong and Shanghai.

People ride bicycles in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm, Thursday, July 18, 2024, in Tokyo. A person wipes his face in blazing heat in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm, Thursday, July 18, 2024, in Tokyo. People stand in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm, Thursday, July 18, 2024, in Tokyo.

The U.S. dollar rose to 156.20 Japanese yen from 156.19 yen. It was trading above 161 yen most of last week but had fallen in recent sessions. The euro cost $1.0936, inching down from $1.0941.UnitedHealth sticks to 2024 outlook despite strong quarter with costs from massive cyberattack highThe recent currency fluctuations are a result of U.S. politics taking “center stage,” according to Tan Jing Yi of Mizuho Bank.

Elsewhere in Asia, Hong Kong’s Hang Seng gained 0.5% to 17,827.50. The Shanghai Composite index edged 0.3% higher to 2,972.94.Australia’s S&P/ASX 200 fell 0.3% to 8,036.50. South Korea’s Kospi declined 1.2% to 2,810.27.

 

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