Investing.com-- Most Asian stocks retreated on Friday, with technology-heavy indexes seeing steep losses as the sector was slammed by profit-taking even as soft U.S. inflation data ramped up optimism over interest rate cuts.
U.S. stock futures were steady in Asian trade, as focus turned to the start of the second-quarter earnings season, with a slew of heavyweight banks set to report on Friday.data read softer than expected for June, which saw traders ramp up bets that the Federal Reserve will begin cutting interest rates in September.Tech-heavy indexes in Asia, which had mostly outpaced their regional peers in recent weeks, clocked the heaviest losses on Friday.
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