Stock market today (April 19, 2024): Asian markets sink, with Japan’s Nikkei down 3.5%, as Mideast tensions flare

Asian stocks tumbled Friday, with Japan’s Nikkei slumping 3.5% on heavy selling of semiconductor-related shares and other market heavyweights.

Semiconductor equipment supplier Lasertec was the largest loser, it lost 9.7% in morning trading. But most other big tech-related shares also dropped. Renesas gave up 7.3%, Tokyo Electron lost 7.8% and Sony Group Corp. declined 3.3%.Japan’s headline inflation rate in March slowed to 2.7%, while the core-core index, excluding fresh food and energy costs, moderated to 2.9%, marking the first time since November 2022 that the index fell below 3%.

Elsewhere, Australia’s S&P/ASX 200 dipped 1.7% to 7,512.70. South Korea’s Kospi dropped 2.9% to 2,558.56. Hong Kong’s Hang Seng declined 1.4% to 16,161.24, while the Shanghai Composite edged down 0.1% to 3,071.76. Equifax dropped 8.5% for one of the market’s bigger losses after it reported weaker revenue for the latest quarter than analysts expected. High interest rates are pressuring its mortgage credit inquiry business.

Stocks have been struggling recently as yields in the bond market charge higher. They’re cranking up the pressure because investors have largely given up on hopes that the Federal Reserve will deliver many cuts to interest rates this year.

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.

Stock market today: Asian shares gain despite Wall Street’s tech-led retreat | Elaine Kurtenbach / The Associated Press📈 Stock Market Update 📉: Asian shares rose despite Wall Street's tech-led dip. The Nikkei 225 climbed 0.3%, Hang Seng gained 1.5%, and Kospi surged 1.8%. Oil prices edged up as Treasury yields eased. KnowMore about today's market movements and what they mean for investors.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Stock market today: Asian shares track Wall Street slump triggered by strong US spending data | Elaine Kurtenbach / AP Business WriterAsian shares skidded Tuesday following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks. The Shanghai Composite index lost 1.7% to 3,007.07 even though the Chinese government reported that the economy grew at a surprisingly fast 5.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Asian stocks track Wall St record after Fed keeps rate projectionAsian markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.
Source: PhilstarNews - 🏆 1. / 94 Read more »