Asia-Pacific markets experienced a broad rebound in afternoon trade on Friday, recovering from earlier losses. The shift occurred as investors rotated out of technology stocks, with South Korea’s Kospi index showing a notable advance.<\/p>\n
Japan’s Nikkei 225 extended its early gains, rising 1.36%, while the Topix saw an increase of 1.17%. South Korea’s Kospi advanced significantly by 4.65%, though its tech-heavy Kosdaq Index declined by 1.68%. Australia’s S&P\/ASX 200 added 1.39%. In Hong Kong, the Hang Seng Index gained 1.57%, and mainland China’s CSI 300 was up 1.15%. Taiwan’s benchmark Taiex inched 0.2% higher.<\/p>\n
U.S. markets were closed for the Independence Day holiday. In the preceding trading session, U.S. stocks closed mixed. The Dow Jones Industrial Average reached a record closing high, boosted by a softer-than-expected June jobs report that fueled expectations for Federal Reserve rate cuts. However, weakness in semiconductor stocks exerted downward pressure on the Nasdaq.<\/p>\n
The Dow Jones Industrial Average added 594.83 points, or 1.14%, to close at a record 52,900.07, and also hit a new intraday high. The S&P 500 saw a smaller gain, rising less than 1 point to end at 7,483.24. The Nasdaq dropped 0.8% to 25,832.67. The semiconductor sector experienced a second consecutive day of declines, impacting the latter two benchmarks. The VanEck Semiconductor ETF fell 4.5%, with notable drops including Teradyne, down 13.6%, and KLA, down 11.5%. Nvidia shares declined 1.4%, and Micron shares lost 5.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Asia-Pacific markets broadly rose in afternoon trade Friday, reversing earlier losses as investors shifted focus away from technology stocks. South Korea’s Kospi saw a significant advance.<\/p>\n","protected":false},"author":2,"featured_media":2353,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[2232,2455,1800,142],"yoast_head":"\n