Asian markets fall after US gains
Stock markets in Asia declined, led by South Korea and Hong Kong exchanges, due to a wave of selling in technology and chip manufacturing companies, particularly firms like Samsung and SK Hynix. These declines occurred despite gains on Wall Street, supported by strong results from several major companies such as SpaceX and Capital One Financial, with the S&P 500 rising by 0.6% and the Nasdaq by 1.1%. Additionally, 10-year Treasury bond yields remained steady at 5.12%. There is a strong correlation between movements in energy markets, where Brent and WTI crude futures increased amid uncertainty over the global energy market’s return to normalcy due to the ongoing war with Iran.
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