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4 Feb 2022

Asian Stocks Mixed amid $250 Billion Meta Stock Plunge Recovery

The Index Today

On Friday morning, Asia Pacific stocks and U.S. equity turned mixed. Amazon Inc.’s soar checked tech shares as concerns about Fed monetary tightening loom.

While South Korea’s KOSPI surged by 0.74%, Japan’s Nikkei 225 dipped by 0.11% by 9:08pm ET (2:08am GMT). S&P/ASX 200 in Australia dropped by 0.21%, as Hong Kong’s Hang Seng Index inched up by 1.87%.

American firms like Amazon Inc. and Snap Inc. enjoyed a surge in shares after high earnings in the previous session, as tech firms regained momentum following Meta Platforms Inc.’s significant $251 billion collapse.

Amazon also stands the chance of potentially gaining $200 billion in market valuation if it manages to sustain its present 14% gain until the U.S. market closure on Friday.

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