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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.
Cash Market Performance
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%.
COVID-19 deaths in the U.S. have tumbled to an average of around 600 per day the lowest level in 10 months with the number of lives lost dropping to single digits in well over half the states and hitting zero on some days.
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