A man monitors stock movements on his mobile phone at a securities brokerage in Beijing, China.
The focus now turns to the release of minutes from the Fed’s June policy meeting and the two-day congressional testimony of central bank boss Jerome Powell, while dealers continue to monitor developments in the China-US trade talks. The fading likelihood of a 50-basis-point cut in rates, as had widely been hoped, provided strong support to the dollar, which has held gains against the dollar and euro while pushing to a more than one-month high on the yen.
The stand-off has hammered South Korean titan Samsung Electronics and SK Hynix, crucial producers of memory chips. Samsung is down around five5% since Monday and SK Hynix is off more than 3%.
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