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Asian equities were mixed but mostly higher as Mainland China fell while Indonesia and Thailand were on holiday. Hong Kong bounced around the room to manage a small gain for the session, though growth stocks underperformed.
Asian equities were mixed overnight as South Korea and Japan underperformed following Minneapolis Fed President Neel Kashkari stating that there might not be interest rate cuts in 2024 if inflation remains “sideways”. The sideways comments led investors to ease their pain with some red wine, but not Merlot!
A global semiconductor consortium, including industry giants like Qualcomm and Intel, urges India to reconsider its plan for duties on cross-border digital e-commerce and data transfers. The World Semiconductor Council warns that such a stance could hinder India's chip design industry and impact the global semiconductor workforce. The semiconductor sector is crucial for India's economic growth, with a $10 billion incentive package in place.
STMicroelectronics N.V. (NYSE: STM)’s stock price has decreased by -2.56 compared to its previous closing price of 48.46. However, the company has seen a -4.89% decrease in its stock price over the last five trading sessions. The Wall Street Journal reported on 07/11/22 that Chip Giants to Build F
The stock of STMicroelectronics N.V. (NYSE: STM) has decreased by -1.44 when compared to last closing price of 54.23. Despite this, the company has experienced a 5.53% gain in its stock price over the last five trading sessions. The Wall Street Journal reported on 07/11/22 that Chip Giants to Build