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Asian Stocks Tumble as Worry on US Economy Sinks Tech Shares

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Economic Growth,Samsung Electronics Co.,Technology Stocks

(Bloomberg) -- Asian equities slumped at the start of the new week, weighed down by losses in technology stocks on concerns over US economic growth.Most Read...

-- Asian equities slumped at the start of the new week, weighed down by losses in technology stocks on concerns over US economic growth.The MSCI Asia Pacific Index fell as much as 1.8%, to the lowest level in three weeks, with chipmakers Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. among the biggest drags. Japan’s Nikkei 225 Stock Average slid more than 3% before trimming its loss as the yen pared last week’s sharp gain.

There is scope for “some more short-term downside for risk assets as positions are likely to unwind,” said Matthew Haupt, a portfolio manager at Wilson Asset Management International. “Expect most weakness in Japan at this stage with all markets to suffer as well,” he said. We recently published a list of 10 Best Automotive Stocks To Buy Now. In this article, we are going to take a look at where Autoliv Inc. stands against the other automotive stocks. Headwinds in the Automotive Industry The automotive industry is heavily commoditized relative to other industries considering the fact that consumers typically have East Timor’s capital, Dili, was preparing on Sunday to welcome Pope Francis to the small Southeast Asian country on Monday.

 

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