Asian stocks are mostly lower after President Joe Biden exited the 2024 race.
8 hours agoFILE - People walk past an electronic stock board showing the sectors' index of Japanese stocks outside a securities firm in Tokyo, on June 7, 2024. Asian stocks were mostly lower Monday, July 22, 2024, after President Joe Biden exited the 2024 race.
“Chinese commercial banks’ net interest margins are already at a record lows and non-performing loans have been growing rapidly; rate cuts will likely add to the pressure on Chinese banks.,” Lynn Song of ING Economics said in a commentary. “We all realize you can fat finger something, mistype something, you know whatever -- we don’t know the technical details yet of how it caused the ‘bluescreen of death’” for users, he said.
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