Japan PPI, South Korea consumer sentiment index, Nvidia sell-off

[Pelican Press 0]

Japan PPI, South Korea consumer sentiment index, Nvidia sell-off

A screen displays the Nikkei 225 Stock Average figure on the trading floor at the Nomura Securities Co. headquarters in Tokyo, Japan, on Jan. 11, 2024. 

Bloomberg | Bloomberg | Getty Images

Asia-Pacific markets mostly rose Tuesday, while investors sold-off U.S. Big Tech stocks overnight in favor of sectors such as banking and energy.

Tech darling Nvidia dropped 6.7% on Monday and was one of the biggest contributors to the Nasdaq’s losses. Information technology was the S&P 500’s worst-performing sector, down more than 2%.

Investors in Asia assessed

This is the hidden content, please

• Sign In
• or
• Sign Up

, as well as Japan’s service sector producer prices.

The

This is the hidden content, please

• Sign In
• or
• Sign Up

climbed 2.5% year on year in May, compared with the 2.7% rise in April.

South Korea’s consumer confidence index climbed in June to 100.9 from 98.4 in May. This comes amid growing optimism about living standards and future household income, as well as domestic economic conditions.

Japan’s Nikkei 225 gained 0.51% while the broad-based Topix rose 1.44%.

South Korea’s Kospi gained 0.42% while the small-cap Kosdaq reversed gains to a 0.52% drop.

The Taiwan Weighted Index pared some losses and was last down 0.29%.

Hong Kong Hang Seng index was up 0.74% while mainland China’s CSI 300 advanced 0.16%.

Reuters reported the Biden administration is

This is the hidden content, please

• Sign In
• or
• Sign Up

over worries that Beijing could access ********* data through these firms’ cloud and internet businesses in the U.S.

All three firms named in the Reuters report – China Mobile, China Telecom and China Unicom – gained in morning trade.

Australia’s S&P/ASX 200 rose 0.92%.

This is the hidden content, please

• Sign In
• or
• Sign Up

World Markets,Markets,Breaking News: Markets,Asia Economy,Nikkei 225 Index,S&P 500 Index,NVIDIA Corp,Hang Seng Index,KOSPI Index,Taiwan Semiconductor Manufacturing Co Ltd,Hon Hai Precision Industry Co Ltd,MediaTek Inc,Taiwan Weighted Index,business news
#Japan #PPI #South #Korea #consumer #sentiment #index #Nvidia #selloff

This is the hidden content, please

• Sign In
• or
• Sign Up