An explosive rally in commodity prices has come at a time when Asia’s tech stocks, much like their global peers, are contending with higher U.S.
“We need to kind of price in a more normal interest-rate environment, more normal inflation environment,” said Ken Peng, head of Asia investment strategy at Citigroup Inc.’s private-banking arm.
Japanese shares declined for a third day on Thursday, while stocks in China snapped a two-day winning run.