Asian shares fell this week, with the regional benchmark halting a two-week gain and Japan’s Topix index capping its worst week since June, as technology shares sank amid a global rout and the yen strengthened.
Asia’s benchmark stock index fell from an almost three-month high amid a renewed selloff of technology shares and as a gain in the yen yesterday dragged Japan’s Topix index to its worst week since June.
Asian stocks rose a second week with the regional benchmark index posting its longest daily winning streak this year as positive U.S. data pointed to a recovery from harsh winter weather and China promised support to counteract a slowdown threatening the nation’s growth goal.
Taiwan’s dollar posted its biggest weekly advance since August after global investors increased purchases of the island’s equities, and as currency gains in South Korea and China reduced the case for intervention.
Asian stocks rose, with the regional benchmark index posting its longest winning streak in seven weeks, after an increase in U.S. manufacturing boosted optimism about growth in the world’s biggest economy.