hikes on growth, while the yen surged on reports that academic Kazuo Ueda was likely to be appointed Japan’s next central bank governor.
Asian stocks were heading for a second weekly loss, while the MSCI World Equity Index was down 0.3% on the day at 0924 GMT, on track for its worth week since December.Maximilian Kunkel, chief investment officer for Germany and global family and institutional wealth, said that recent earnings reports, particularly for U.S. technology companies, have hit market sentiment.
“People realizing that the earning season hasn’t actually been all that great,” he said. “Investors are starting to expect lower profit margins as inflation comes down.”