{"id":3491,"date":"2026-07-02T06:10:54","date_gmt":"2026-07-02T06:10:54","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=3491"},"modified":"2026-07-02T06:10:54","modified_gmt":"2026-07-02T06:10:54","slug":"asian-shares-fall-on-chipmaker-drag-us-jobs-data-looms","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=3491","title":{"rendered":"Asian shares fall on chipmaker drag; US jobs data looms"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>SYDNEY, July 2 (Reuters) &#8211; Asian shares extended declines \u200bon Thursday as investors rotated out of chipmakers after a stellar quarter, while currency and bond markets braced for U.S. \u200cjobs data that could give pointers to the risk of interest rate hikes.<\/div>\n<div>Oil prices hit new four-month lows, with Brent crude down 1% at $70.88 a barrel, as U.S. President Donald Trump said talks with Iran had gone well in Qatar, and more oil tankers transited through the Strait of Hormuz.<\/div>\n<div>European shares are expected to open steady, with \u200bregional stock futures little changed.<\/div>\n<div>Wall Street futures edged up 0.2% after a selloff in semiconductor shares overnight, though Meta Platforms (META.O)<svg><\/svg><span>, opens new tab<\/span> jumped \u200bnearly 9% on reports it was building a cloud business to sell excess AI computing capacity.<\/div>\n<div>MSCI\u2019s broadest index of Asia-Pacific \u2060shares outside Japan (.MISX00000PUS)<svg><\/svg><span>, opens new tab<\/span> fell 1.2%, while Japan\u2019s Nikkei dropped 1.4%. Hong Kong&#8217;s Hang Seng index (.HSI)<svg><\/svg><span>, opens new tab<\/span> bucked the trend, with a gain of 0.9%.<\/div>\n<div>South Korea\u2019s \u200bKOSPI (.KS11)<svg><\/svg><span>, opens new tab<\/span> sank 4.8%, extending Wednesday&#8217;s slide of 2%, after an eye-watering second-quarter surge of 68% on soaring AI-related demand for memory chips. SK Hynix (000660.KS)<svg><\/svg><span>, opens new tab<\/span> plunged \u200b8.5% and Samsung (005930.KS)<svg><\/svg><span>, opens new tab<\/span> tumbled 7.2%.<\/div>\n<div>&#8220;The plunge in Asia semis today is more about a hangover from Wall Street,&#8221; said Fabien Yip, a market analyst at IG, adding that profit-taking appeared to be key driver.<\/div>\n<div>&#8220;Layered on top is Apple&#8217;s reported outreach to restricted Chinese memory makers for China-market devices, which introduces pricing threat to the Korean and Japanese \u200bincumbents.&#8221;<\/div>\n<div>Investor attention is squarely on U.S. non-farm payrolls data due on Thursday this month due to a holiday on Friday for Independence Day, which \u200bfalls on a Saturday this year.<\/div>\n<div>Economists polled by Reuters expect a rise of 110,000 jobs for June, but forecasts range widely from gains of 25,000 to 200,000, \u200csuggesting \u2060high chances of a surprise. The jobless rate is forecast to stay steady at 4.3%.<\/div>\n<div>&#8220;Ideally, equity players want a Goldilocks outcome: respectable job creation, a stable unemployment rate,&#8221; said Chris Weston, head of research at Pepperstone.<\/div>\n<div>&#8220;Anything that avoids a marked increase in the implied probability of near-term rate hikes is likely to be welcomed by equity bulls.&#8221;<\/div>\n<div>At the Sintra Forum, Federal Reserve Chair Kevin Warsh said inflation risks had eased recently, offering only short-lived relief \u200bto Treasuries.<\/div>\n<div>Warsh also said he would \u200bstick firmly to the 2% inflation \u2060target and &#8220;disappoint&#8221; anyone who expected loose monetary policy. Markets currently price in about 80% odds of a rate hike in September.<\/div>\n<div>Treasury yields have been climbing as traders braced for a potentially strong jobs number, which could \u200bsee bets for a near-term rate hike ramp up.<\/div>\n<div>U.S. 2-year yields rose 2 basis point (bp) on Thursday to \u200b4.1806%, and were \u2060up 9 bps so far this week. 10-year yields also climbed 2 bps to 4.4911% and were up 12 bps this week.<\/div>\n<div>Higher Treasury yields kept the U.S. dollar supported.<\/div>\n<div>The euro was steady at $1.1385, having eased 0.4% overnight after European Central Bank President Christine Lagarde said inflation and growth risks were becoming more broadly \u2060balanced.<\/div>\n<div>The dollar \u200bslipped 0.1% to 162.39 yen, having hit a fresh 40-year high of 162.84 on \u200bWednesday.<\/div>\n<div>The yen&#8217;s slide has drawn the usual warnings of intervention from Tokyo, although the impact of interventions in April and May proved short-lived, despite authorities expenditure of almost 12 trillion \u200byen.<\/div>\n<div>Gold bounced 0.7% to $4,059 an ounce after a drop of 14% in the second quarter.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3490\">As deportation protections end, Haitians confront fear and uncertainty<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3487\">Japan shifts to ambush intervention tactics against yen short sellers, sources say<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3484\">Russian air strikes kill eight, injure dozens in Ukraine\u2019s Kyiv<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian shares extended declines \u200bon Thursday as investors rotated out of chipmakers after a stellar quarter, while currency and bond markets braced for U.S. \u200cjobs data that could give pointers to the risk of interest rate hikes.<\/p>\n","protected":false},"author":1,"featured_media":3319,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[110],"class_list":["post-3491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Asian shares fall on chipmaker drag; 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