Market Updates
Weak Tech Stocks Lead Cautious Asian Markets Lower
Arjun Pandit
10 Aug, 2022
Mumbai
Benchmark indexes in Asia traded down with tech stocks leading the decliners in Hong Kong and Tokyo.
Semiconductor stocks fell in Tokyo on the worries that the demand for memory and graphic processors is slowing down.
Tech stocks in Hong Kong eased on the simmering tensions between China and the U.S. after the recent visit of the U.S. House Speaker Nancy Pelosi.
The Nikkei 225 index fell 0.7% to 27,819.33, the Hang Seng index dropped 1.95% to 19,610.34, and the Sensex index eased 0.06% to 58,817.29.
Producer prices in Japan eased to a 0.4% rise in July from the previous month and rose 8.6% from a year ago, the Bank of Japan reported on Wednesday.
Prices in June rose 0.9% and advanced 9.4% from a year ago in June.
China's consumer prices accelerated to a two-year high in July to an annual rate of 2.7% after rising at 2.5% in June.
Producer prices eased to an annual rate of 4.2% after surging at a rate of 6.1% in June, the data released by the National Bureau of Statistics of China.
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