Asian stocks rise driven by tech sector gains, while China dips due to U.S. export restrictions

From Investing.com: 2024-12-02 22:19:22

Most Asian stocks climbed on Tuesday, led by Japan and South Korea, while Chinese shares declined due to new U.S. export restrictions. U.S. stock index futures steadied as investors await an address from Federal Reserve Chair Jerome Powell. Tech sector gains were driven by Washington’s export restrictions targeting Chinese companies, benefiting global semiconductor players outside China. Japan and South Korea saw significant gains in tech stocks, with Japanese chip firms expected to benefit modestly from the restrictions. Chinese stocks weakened due to the U.S. export restrictions, with Hong Kong listed SMIC shares falling 2.3%. Investors are closely watching for updates on U.S.-China trade relations and potential sanctions on the BRICS group of nations.



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