Asian Stock Markets Decline on Friday, While Indian and Taiwanese Shares Fall
The US stock markets were closed yesterday in observance of Independence Day. However, international markets were not immune to fluctuations. On Friday, Asian stock markets saw a decline, with the Asia Dow index down by 0.3 percent. Japanese stocks also suffered losses, as the Nikkei index was down by 0.04 percent and the TOPIX index was down by 0.4 percent. Mainland China and Hong Kong experienced a decline of around one percent as well. Despite this overall decline, the week has been relatively strong for Asian stock markets since mid-May. However, Chinese stocks have been on a downward trend for the seventh consecutive week, with the CSI 300 index dipping to levels almost equivalent to the beginning of the year.
In India and Taiwan, shares also fell on Friday, while South Korea’s market stood out with a strong rise. The rise in South Korea was driven by Samsung’s strong financial results, which caused its stock price to increase by 2.3 percent. Samsung is a leader in memory chips for the semiconductor industry and experienced significant growth in turnover and profit due to increased demand for memory chips from data centers during the artificial intelligence computing boom.
On the foreign exchange market, currencies fluctuated against each other as well as against Bitcoin’s value has been on a downward trend for four consecutive days now due to decreased interest in cryptocurrency trading among investors
