Asian shares are mostly lower as Kospi falls 4% and tech giants decline on Wall Street
Summary
Asian stock markets mostly fell, with South Korea’s Kospi dropping over 4% due to declines in big technology companies like SK Hynix and Samsung Electronics. Oil prices stayed steady near $79 a barrel amidst uncertainty about the U.S.-Iran conflict and upcoming U.S. jobs data.Key Facts
- South Korea’s Kospi index fell 4.5%, hitting 6,306.40 points.
- SK Hynix shares dropped 9.7%, and Samsung Electronics lost 6.1%.
- Japan’s Nikkei 225 fell 1.2%, Hong Kong’s Hang Seng declined 1.8%, and Shanghai’s index was nearly unchanged.
- Australia’s S&P/ASX 200 rose slightly by 0.5%.
- Brent crude oil price stayed near $79.24 per barrel, down 0.3%.
- U.S. benchmark crude oil was at $74.93 per barrel, down 0.4%.
- The U.S.-Iran conflict has affected global oil supply and markets, causing fluctuating oil prices.
- Investors are cautious ahead of the U.S. July jobs report expected on Friday, which could impact markets.
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