Asian shares retreat in thin holiday trading after a tech-led rally on Wall St
Summary
Asian stock markets fell on Friday while markets in some parts of China were closed for holidays. U.S. futures also dropped after talks on Iran’s nuclear program were postponed, reducing optimism about a peace deal. On Thursday, U.S. stock markets rose, with technology companies leading gains.Key Facts
- Asian shares dropped, with China’s markets closed for the Dragon Boat Festival holiday.
- U.S. futures declined after delays in talks with Iran about nuclear weapons and oil through the Strait of Hormuz.
- Tokyo’s Nikkei 225 index was mostly unchanged at 71,082.81.
- South Korea’s Kospi index fell 0.5%, and Australia’s S&P/ASX 200 dropped 1.1%.
- Inflation concerns led central banks like the Bank of Japan to raise interest rates recently.
- On Thursday, U.S. stocks closed higher: S&P 500 up 1.1%, Dow Jones up 0.1%, Nasdaq up 1.9%.
- Technology companies such as Intel, Nvidia, and Micron saw significant stock gains.
- SpaceX shares declined following losses after its recent debut on the stock market.
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