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Asian Stocks Retreat from Record Highs Amid Profit-Taking
Asian markets slip as profit-taking and dollar strength dampen sentiment.
Asian equity markets from Tokyo to Taipei and Seoul pulled back today as investors booked profits following recent tech-led rallies. The U.S. dollar, meanwhile, hit near nine-month highs versus the yen and three-month highs versus the euro, adding pressure on risk assets. Mixed economic signals from the Federal Reserve and uncertainty about future monetary policy also weighed on sentiment. With valuations elevated and momentum fading, analysts say regional equities may consolidate ahead of fresh catalysts.