Asian stocks retreat as bitcoin hits record high on Trump euphoria

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Asian stocks retreat as bitcoin hits record high on Trump euphoria - Business Standard

Quick Summary:

On the macro side, investor focus will be on U.S.consumer price inflation data on Wednesday, with a parade of Federal Reserve speakers also due to speak this week, including Fed Chair Jerome Powell on Thursday.

Investors anticipate Trump's second four-year term in office will bring equities-boosting tax cuts and looser regulations, lifting the world's biggest and best-known cryptocurrency, bitcoin, to an all-time high of $89,637.

Chip stocks in the region have been reeling this week after Reuters reported that the U.S.ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers that are often used in AI applications.