Asian markets struggle due to tech-driven sell-off, but positive US growth data eases concerns and supports hope for an interest rate cut.
Asian markets struggle to recover from tech-driven sell-off, as US growth data demonstrates economy remains robust, yet does not deter hopes for an interest rate cut. Despite more losses on Wall Street, tech-heavy stocks rebound with positive US growth data. However, Taipei faces challenges after being closed for two days due to a typhoon, with chip leaders like TSMC experiencing declines. US economy expansion outpaces expectations, easing concerns of an economic slowdown. This positive data provides a much-needed boost to sentiment and encourages traders to hold onto hopes for an interest rate cut.
July 25, 2024
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