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STOCKS 0015 GMT — Japanese stocks are lower as fears about the Iran war and rising energy costs have grown. Chip-related stocks are leading declines. Kioxia Holdings is down 5.7%, SoftBank Group is 4.
Japanese stocks declined after Fed Chair Kevin Warsh’s speech on Friday increased prospects for U.S. rate increases.
South Korea led a selloff in Asian chip stocks early Wednesday, as rising bond yields exacerbated worry over the large sums of cash being shelled out by Big Tech.
Japanese stocks were higher due to eased fears about the Fed’s potential rate increases and gains in U.S. technology stocks overnight.
Asian shares were mostly higher on Wednesday and oil prices fell after the U.S. stock market rose to more records. It topped 66,000 for the first time in intraday trading. Computer chip equipment maker Tokyo Electron's shares jumped 5.9% and testing equipment maker Advantest gained 5.7%.
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