Asian Stock Market: Trades in positive territory, led by tech stocks

The concern about the economic slowdown in China remains in focus.The Jackson Hole Symposium will be a closely watched event for traders.after major chipmaker Nvidia Corp reported stronger-than-expected quarterly profits. However, the fear of China’s economic woes and the possibility of higher interest rates in the US remain in focus.

Investors are concerned about the economic slowdown in China and the spillover effect on other countries. On Tuesday, China's President Xi Jinping told the BRICS group that the Chinese economy was resilient and that the fundamentals for the long term were intact. Japanese equities gain traction, supported by tech stocks. About the data, the first reading from Japan's manufacturingfor August increased to 49.7 from 49.6. The result was lower than the 49.5 expected. While Service PMI rose from 53.8 to 54.3 over the same period. Nevertheless, the downbeat first reading of S&P PMI data from the US, UK, and Eurozone fuels recession fears and increases demand for the Japanese Yen, a traditional safe-haven asset.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: Most stock markets rise on technology stocks recoveryThe Asian stock markets experienced an uptick on Tuesday propelled by the rebound of technology stocks. However, concerns regarding the tightening of
Source: FXStreetNews - 🏆 14. / 72 Read more »

Stock market today: Asian stocks follow Wall Street higher ahead of Federal Reserve conferenceAsian stocks have followed Wall Street higher as traders wait for signs of interest rate plans from this week’s Federal Reserve conference.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian stocks follow Wall Street higher ahead of Federal Reserve conferenceAsian stocks have followed Wall Street higher as traders wait for signs of interest rate plans from this week’s Federal Reserve conference.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian stocks follow Wall Street higher ahead of Federal Reserve conferenceAsian stocks have followed Wall Street higher as traders wait for signs of interest rate plans from this week’s Federal Reserve conference.
Source: ksatnews - 🏆 442. / 53 Read more »

Asian Stock Market: Mixed trading amid the fear of higher US rate, China's economic woesAsian stock markets trade mixed on Wednesday amid the cautious mood in the market. Asian equities remain under pressure amid the fear of higher inter
Source: FXStreetNews - 🏆 14. / 72 Read more »

Stock market today: Asian shares are mixed ahead of Fed Chair speech and Nvidia earningsAsian markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Source: AP - 🏆 728. / 51 Read more »