Chip stocks cheered while the rest retreat

Frankfurt, Nov. 13 (BNA): A look at the day ahead in European and global markets from Kevin Buckland

 

Chip stocks gave Asian equity investors a small bit of cheer to start the week, picking up where Wall Street left off while U.S. yields stayed subdued, but elsewhere, bears were firmly in control, Reuters reported.

 

Looking across the region, Japan’s tech-heavy Nikkei managed to keep its head above water, buoyed by gains for its two biggest chip-related shares. Taiwan’s benchmark advanced 0.8%.

 

But Hong Kong flipped from early gains to a loss of about 0.15%. A sub-index of tech shares remained firmly positive but another of mainland property developers slumped more than 1%.

 

China’s blue chips fell 0.5%.

 

ECB President Christine Lagarde said last week that rates will stay restrictive for at least several quarters. Lagarde deputy Luis de Guindos has his say a little later today, giving the keynote speech to kick off Euro Finance Week.

 

R.S.