MARKETS: Asian stock markets are falling – the semiconductor giant’s guidance was disappointing

Asian markets saw a decline during the night.

Japan’s Nikkei index was down 1.4 percent. Bank of Japan officials are considering raising the key interest rate by a quarter point in June. Larger interest rate hikes are also possible during the year. The Bank of Japan is considering raising the key interest rate to 1% at its meeting on June 16. The policy rate is currently 0.5 percent.

In Taiwan, the TAIEX index was down by almost one percent.

The Hang Seng index was down by one and a half percent.

South Korea’s kospi index was down about one percent.

Asian markets followed the drop in the US stock market. Wall Street’s key stock exchanges closed lower on Wednesday after a strong stock market rally.

Especially a US semiconductor manufacturer Broadcomin the economic outlook caused disappointment among investors, after which the company’s stock fell by more than ten percent on the secondary market. The company predicts AI semiconductor revenue to be $16 billion in the third quarter of the fiscal year, compared to the average analyst forecast of $17.2 billion.

The MSCI All Country World index, which describes the global stock market, was down 0.2 percent.

The yen strengthened slightly against both the dollar and the euro. The euro strengthened against the dollar.

One euro equals 1.1610 dollars. The dollar gave 159.87 yen.

European and American stock index futures were down.