Asian shares extended declines on Thursday as investors rotated out of chipmakers after a stellar quarter, while currency and bond markets braced for U.S. jobs data that could give pointers to the risk of interest rate hikes.
Tag: Asian Markets
The Bank of Japan raised interest rates to a 31-year high on Tuesday, marking another landmark step in normalising monetary policy as it focused on taming price pressures from the energy shock caused by the Iran war.
The economic shock from the Iran war hit European factories last month, suppressing demand for their goods and pushing up raw material costs at the fastest rate in four years, although their Asian peers saw activity expand due to stockpiling, surveys showed on Monday.
Japan’s Nikkei share average topped 67,000 for the first time on Monday, powered by AI-related stocks, as startup investor SoftBank Group overtook Toyota Motor to become the country’s most valuable company.