The global chip sector is stealing the spotlight from major central banks, after the world's top contract chipmaker raised concerns over demand, hitting share prices of semiconductor stocks. There's also a new worry over chip demand from automakers as simultaneous strikes at factories of Detroit firms General Motors, Ford and Chrysler parent Stellantis enters day four. Japan's Respect for the Aged holiday cushioned volatility in Asia and some signs of stability in Chinese markets after a swathe of policy measures have given pause to pessimism.
The global chip sector is stealing the spotlight from major central banks, after the world's top contract chipmaker raised concerns over demand, hitting share prices of semiconductor stocks.
There's also a new worry over chip demand from automakers as simultaneous strikes at factories of Detroit firms General Motors, Ford and Chrysler parent Stellantis enters day four. Not entirely though, after troubled Chinese trust firm Zhongrong International Trust Co said it was unable to make payments on some trust products on time, showing the property sector is still the biggest source of stress.
After the European Central Bank's fireworks last week, the euro will be closely watched as a signal for whether the backlash from more hawkish ECB members is gaining any traction with traders and investors.
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