(Bloomberg) -- Asian stocks retreated for a second
day on concern rising global interest rates will curb consumer
spending and corporate profits.
Benchmarks in markets open for trading all plunged by more
than 1 percent, sending the Morgan Stanley Capital International
Asia-Pacific Index to its biggest loss in two weeks. Honda Motor
Co., which gets 80 percent of its revenue from overseas sales,
and Samsung Electronics Co., South Korea's largest exporter, fell
after U.S. bond yields jumped, fueling speculation interest rates
will increase in the region's largest export market.
Read more at Bloomberg Stocks News
day on concern rising global interest rates will curb consumer
spending and corporate profits.
Benchmarks in markets open for trading all plunged by more
than 1 percent, sending the Morgan Stanley Capital International
Asia-Pacific Index to its biggest loss in two weeks. Honda Motor
Co., which gets 80 percent of its revenue from overseas sales,
and Samsung Electronics Co., South Korea's largest exporter, fell
after U.S. bond yields jumped, fueling speculation interest rates
will increase in the region's largest export market.
Read more at Bloomberg Stocks News
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