Asia stocks slump on tech rout contagion, global uncertainty

Quick Summary:

SINGAPORE: Asian shares are set to end the week on a sour note, as uncertainty across major economies added to headwinds for investors even as the global rate easing cycle gets under way.

Chinese officials on Friday acknowledged that the sweeping list of economic goals contained "many complex contradictions", pointing to a bumpy road ahead for policy implementation.

The dollar was meanwhile on the front foot, distancing itself from a four-month low hit earlier in the week against a basket of currencies.Sterling dipped 0.05% to $1.2939, while the Australian dollar fell 0.12% to $0.6698.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaHong KongJapanSouth KoreaSingaporeTaiwan

Topics: MSCI Nikkei /Business/Business News Asian Markets Interest rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 14:58:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 767 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21682237

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