China Market Update: Yen Strengthening Weighs On Asia, Week In Review

Asian equities had the worst day I can remember over the last 11 years, as Japan fell -6% on BoJ tightening, causing the yen to rally to 148 JPY per USD from 161 on July 3rd. Growth and semiconductor-heavy Taiwan and South Korea fell -4.4% and -3.65%, respectively, following poor US economic data, and Intel and Amazon’s disappointing results yesterday.