Asian stocks mixed as yen gains
The article concerns the performance of stocks and global markets following the intervention of the United States and Japan to support the Japanese yen, which rose to its highest level since the end of last year, causing divergence in Asian markets. This led to a sharp decline in oil prices after US President Trump’s statements ruling out a response to potential attacks on Iran, resulting in a decrease of up to 5% in oil prices. In equities, the Japanese Nikkei index declined by 1.9%, while the South Korean KOSPI fell by 4.5% despite previously positive performance. Conversely, the Hong Kong Hang Seng index increased by 0.6%. In the US market, the S&P 500, Dow Jones, and Nasdaq indices rose, with major tech stocks like Amazon jumping 15.3% on better-than-expected earnings. However, chip manufacturers' shares were negatively affected, and Apple’s stocks declined despite strong earnings, due to weak growth expectations caused by component shortages.
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