Asian stocks head into weekend on a low as tech extends losses
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Hong Kong – Asian stocks sank again Friday as tech firms took another beating from investors increasingly losing faith in the sector, with the traditional safe haven yen and government bonds benefiting from the risk-off mood.
Since AI-linked companies hit record highs in June, their equity prices have been pummelled by concerns they were overvalued, their huge outlays on infrastructure and hardware might not return a profit and, more recently, their servicing costs were spiralling.
That ha
Since AI-linked companies hit record highs in June, their equity prices have been pummelled by concerns they were overvalued, their huge outlays on infrastructure and hardware might not return a profit and, more recently, their servicing costs were spiralling.
That ha
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