HONG KONG: Tokyo led a plunge across Asian equities on Monday (Aug 5), while the yen hit a six-month high after weak US jobs data fanned fears of a recession in the world's top economy and boosted bets on several Federal Reserve interest rate cuts.
The sell-off followed another hefty day of losses on Wall Street, where heavyweight tech firms including Amazon and Microsoft took the brunt owing to worries an AI-fuelled rally this year may have been overdone.
