Most Asian markets dropped on Friday, trailing Wall Street losses triggered by the US Federal Reserve boss signaling an aggressive monetary policy tightening cycle and the ongoing economic impact of COVID-19 restrictions in China.
Tokyo’s Nikkei 225 closed 1.63 percent down at 27,105.26, even as inflation data from Japan was in line with market expectations and better than elsewhere in the world.
A falling yen, due mainly to the interest rate gap between Japan and the US, had boosted trade on the Nikkei 225 all of this week, but it was not enough to alleviate concerns around the prospect of rate hikes
Asian and European stocks mostly sank on Friday on hawkish comments from the Federal Reserve about its monetary tightening plans, sending the dollar sharply higher against the euro.
Hong Kong - Asian markets were marginally higher on Wednesday while oil began recovering after a downgraded IMF global growth forecast for 2022 had sent crude prices plunging.The.
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