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SINGAPORE (REUTERS) - European and US stock futures fell on Friday (Jan 29), while Asian stocks headed for their steepest weekly loss in months, as a Wall Street retail-trading frenzy and a liquidity squeeze in China unnerved investors and weighed on frothy markets. S&P 500 futures fell 1.2 per cent and Nasdaq 100 futures fell 1.4 per cent. FTSE futures, DAX futures and EuroSTOXX 50 futures all fell by just over 1 per cent. The US dollar rose to a seven-week high against the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 per cent and is on course for a weekly loss of 3.8 per cent - which would be the largest since September. Japan’s Nikkei fell 1.9 per cent and is heading for its first weekly loss of the year. ....
TAIPEI • Taiwan Semiconductor Manufacturing Co (TSMC) triggered a global chip stock rally after outlining plans to pour as much as US$28 billion (S$37 billion) into capital spending this year, a staggering sum aimed at expanding its technological lead and constructing a plant in Arizona to serve key American customers.. Read more at straitstimes.com. ....