Investing.com-- Most Asian stocks rose on Friday as heavyweight technology shares steadied from several sessions of steep declines, although regional indexes were still set for deep weekly losses.
The tech sector steadied after extended profit-taking and a shift into more economically sensitive sectors battered valuations over the past week. Losses were worsened by underwhelming earnings from major U.S. tech companies.) was an outlier in Asian tech on Friday, with the firm’s Taipei shares tumbling nearly 7% after a two-day holiday in Taiwan due to Typhoon Gaemi.
Nifty futures pointed to a flat open for the index, which did see some measure of profit-taking this week, while investors also reacted negatively to an increase in India’s capital gains tax rates under the 2024 union budget.retained a bulk of gains made through July, where they hit a series of record highs on optimism over Indian economic growth.