Radiocor News

Asian shares close sharply lower, extend selloff

Tokyo Nikkei 225 down 1.17%, S&P ASX 200 down 1.08% (Il Sole 24 Ore Radiocor) - Tokyo, 24 May - Asian shares closed sharply lower, extending yesterday's gains losses as prospects of higher-for-longer US interest weighed on sentiment.

Data released yesterday showed a drop in US jobless claims, while S&P Global's Flash PMI survey indicated that business activity expanded faster than economists had anticipated in May.

The figures come after more hawkish-than-expected minutes of the Federal Reserve's latest policy meeting released on.

Wednesday.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped by 0.5% and was headed for a 1% weekly loss, breaking a four-week winning streak.

On the data front, Japan's core inflation decelerated for the second consecutive month in April as food prices cooled, reflecting persistent weakness in spending.

In Seoul stock market dealings Samsung Electronics sank 3.07% following a Reuters report that the company's high bandwidth memory (HBM) chips were still failing to meet Nvidia's standards due to issues with heating and power.

The Nikkei index closed down 1.17% at 38,646 points, in Sydney the S&P ASX 200 closed down 1.08% at 7,727 points, while in Seoul the KOSPI closed down 1.25% at 2,687 points.

The Shanghai Composite index was down 0.82% at 3,090 points and the Hong Kong Hang Seng index was down 1.66% at 18,555 points. In Mumbai the Sensex index was up 0.03% at 75,438 points.

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(RADIOCOR) 24-05-24 09:06:53 (0183) 5 NNNN

 


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