Last week, Asian regional markets showed mixed performance, with Singapore's Straits Times Index gaining a modest 0.1% while Hong Kong's Hang Seng Index fell 0.5%. A pullback in US tech stocks pressured Asian tech sectors. Investors remain cautious about global growth prospects, awaiting further economic data for guidance.
Last week, regional markets across Southeast and North Asia displayed mixed performance. Singapore's Straits Times Index (STI) edged up 0.1% to close at 3,205 points, primarily supported by banking stocks. However, Hong Kong's Hang Seng Index (HSI) fell 0.5% to 16,500 points, largely due to weaker economic data from China and a broad pullback in technology stocks. The recent retreat of the US Nasdaq index from its historical highs created a ripple effect on Asian tech stocks, with semiconductor companies in Taiwan and South Korea experiencing share price pressure. Investors are currently closely monitoring statements from the US Federal Reserve and upcoming global manufacturing PMI data to assess the true momentum of global economic growth. Geopolitical risks, particularly tensions in the Middle East, also added to market uncertainty.
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