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The major Asia-Pacific stock indexes tumbled on Thursday as Wall Street shares fell sharply with inflation data stoking fears of a rate hike by the Federal Reserve.
In Japan, the Nikkei slumped to a 4-month low as an inflation scare hit expensive shares. South Korean shares also fell for a third straight day on U.S. inflation fears. Stocks in China and Hong Kong fell on soft bank lending, Sino-U.S. tensions. In Australia, shares closed lower for a third session as miners, tech stocks took a dive.
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Japan’s Nikkei 225 Index settled at 27448.01, down 699.50 or -2.49%. Hong Kong’s Hang Seng Index finished at 27825.78, down 405.26 or -1.44% and South Korea’s KOSPI Index closed at 3122.11, down 39.55 or 1.25%.