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Informist, Wednesday, Jun. 10, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Most Asian mkts dn on US tech cos fall, escalation in Iran war

 

MUMBAI--0814 IST--Most indices in Asia fell, taking cues from the sell-off in technology stocks on Wall Street overnight. The South Korean benchmark index KOSPI, which ended over 8% up Tuesday, slipped 3% during the initial hours of trade Wednesday morning. Further, the US launching a fresh attack against Iran in what it called self-defence worsened sentiment in the region. Brent Crude Oil futures inched up slightly and hovered near $92 per barrel. 

 

"CENTCOM (US Central Command) forces struck Iranian air defense, ground control stations, and surveillance radar sites near the Strait of Hormuz with precision munitions from U.S. Air Force and Navy fighter jets. The operation was a proportional response to recent attacks on U.S. forces," the US Central Command said in a statement. US President Donald Trump had said in a post on Truth Social that Iran struck down a US Apache Helicopter. 

 

Meanwhile, China's producer prices rose for a third straight month in May by 3.9% on year to their highest level since July 2022. Consumer prices rose 1.2% on year and was lower than expected. Economists had projected retail inflation climbing 1.3% on an annualised basis in May. The recent inflation print indicates that high energy prices continued to increase costs for businesses and households, as per Reuters. China's CSI 300 index was down almost 1% and the SSE Composite around 0.5%. 

 

In Japan, producer prices climbed 6.3% on year in May, according to data from the Bank of Japan. This is much higher than the 5.3% on-year increase posted in April and was also significantly more than the 5.3% rise polled by Reuters. "The continued strength in producer price inflation makes it all but certain that the Bank of Japan will hike rates at its meeting next week," Abhijit Surya, senior Asia-Pacific economist at Capital Economics, told Reuters. The country's benchmark Nikkei 225 index was down 1%. 

 

The following were the levels of major Asian indices at 0812 IST:

 

Index	Level	Change in %
CSI 300 Index	4750.1757	(-)1.08
Hang Seng Index	24349.87	(-)0.88
Nikkei 225 Day	64714.86	(-)1.07
TOPIX FIRST SECTION	3864.09	(-)0.82
KOSPI	7804.98	(-)3.61
FTSE Singapore Strait Times	4969.49	(-)1.07
S&P/ASX 200 Index	8634.80	0.36

 

(Ruchira Kagita)

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Equity Alert: Tech stock sell-off resumes on Wall Street, NASDAQ down 1%

 

MUMBAI--0735 IST--The breather for technology stocks on Wall Street lasted only a day as selling resumed in the sector Tuesday. The NASDAQ Composite closed 1% lower, while the S&P 500 ended 0.3% lower. The Dow Jones Industrial Average, meanwhile, ended in the green. Shares of Advanced Micro Devices fell 3%, Micron Technology declined over 1%, and Qualcomm fell almost 6%. Marvell Technology, which advanced as much as 9.6% Monday, fell almost 8%. The CBOE Volatility Index, often referred to as the Wall Street fear gauge, hit its highest level since Apr. 7 on Tuesday, according to Reuters.

 

The Philadelphia Semiconductor Index fell nearly 2?ter closing almost 6% higher Monday. The S&P 500 Information Technology index was also down nearly 2%. On the other hand, retail stocks in the Dow Jones displayed positive momentum. Shares of Home Depot and paint maker Sherwin-Williams rose almost 4?ch. Johnson & Johnson, Procter & Gamble, and Coca-Cola also advanced around 2?ch. 

 

"If we're talking about the substance of what we've seen over the past few weeks, it's really been concentrated in that memory, semiconductor area that's lifted the market. It's been the real force behind everything, and really it's run so hard that it feels very toppy at this moment," Marta Norton, chief investment strategist for Empower Investments, told CNBC. 

 

In other news, Anthropic said it launched a new model, Claude Fable 5, for general use ahead of its initial public offering. The company said it will deploy the model through Project Glasswing, in collaboration with the US government, as an upgrade to Claude Mythos Preview. The model has the strongest cybersecurity capabilities, the company said. Project Glasswing is Anthropic's partnership with over 40 organisations which use its artificial intelligence to secure software.

 

The following were the closing levels of major US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50872.11	0.17
NASDAQ Composite	25678.82	(-)0.97
S&P 500	7386.65	(-)0.26

 

(Ruchira Kagita)

 

US$1 = INR 95.35

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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