GLOBAL MARKETS-Asian shares extend global sell-off as rate hopes ebb

From Nasdaq:

Asian shares extended a global sell-off on Wednesday, while the dollar held gains. Market optimism about early U.S. interest rate cuts ebbed ahead of the release of Fed minutes and jobs data. In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3% after a 1.0% drop on Tuesday. Japan markets are shut for a public holiday. (Reuters)

South Korean shares slid 2.1%, and Hong Kong’s Hang Seng index fell 1.1%, as technology shares dropped 2.2% following a tech-led slide on Wall Street. Chinese gaming stocks rose after Beijing removed a gaming regulatory official but later faced sell-off proposed video game investment rules. Kyle Rodda, an analyst at Capital.com, warned of exaggerated market moves from combined event risks and thin liquidity at the end of the holiday. (Reuters)

Later on Wednesday U.S. Fed minutes are set to release. The ISM survey on U.S. manufacturing is due to be released. The Nasdaq slid 1.6% due to Apple downgrades, and Tesla shares were flat. U.S. Treasury yields climbed, pressuring stocks and trading was not conducted in Asia due to a holiday in Japan. Tensions in the Middle East are increasing, Geo-political concerns are present, and the dollar held steady, while Bitcoin rose to $45,287. Oil prices extended declines, while spot gold rose to $2,065.39 an ounce. (Reuters)



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