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Asian stocks rallied on Wednesday as investors returned to semiconductor shares after a bruising sell-off, taking their cue from a Wall Street rebound even as Brent crude pushed further above $91 a barrel. MSCI's Asia-Pacific gauge outside Japan gained 1.2%, while South Korea's Kospi surged more than 6% and Japan's Nikkei 225 climbed 1.9%.
Japan's imports jumped to a record high in June, government data showed on Wednesday, as a weak yen and soaring oil prices drove up import costs and inflation, leaving the central bank in a policy bind.
Fifth Third Bancorp bought a new position in Franklin FTSE Japan ETF (NYSEARCA:FLJP) during the undefined quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,857 shares of the company's stock, valued at approximately $2,745,000. Fifth Third Bancorp owned about 0.08%
The Nikkei 225 Index continued its freefall as technology companies like Softbank, Tokyo Electron, Kioxia, and Advantest plunged ahead of the upcoming big-tech earnings. It plunged by over 4%, reaching its lowest level since June 11.
A large and powerful typhoon approached a remote chain of islands in Japan's southwest on Friday, prompting authorities to warn of violent winds, torrential rain, landslides and flooding in what could be the region's most destructive storm in years.
The Nikkei 225 Index traded sideways on July 8 as artificial intelligence (AI) stocks rebounded after Tuesday's sharp sell-off. The index was trading at 39,770, about 7% below its highest level this year.
With indications that President Donald Trump will support lifting the ban on selling F-35 Lightning II stealth strike fighters to Turkey, Israeli Prime Minister Benjamin Netanyahu has predictably expressed opposition. While a delivery of the fifth-generation combat aircraft to Turkey likely isn't imminent even if swiftly approved, Russia, meanwhile, seems to have made progress in manufacturing the first batch of 4.5-generation Su-35 Flanker fighters Iran ordered years ago.
The S&P 500's top 10 stocks now make up ~40% of the index. VEFA seeks to provide developed international exposure with an analyst sentiment tilt, which may help reduce concentration risk.