Asian stocks tumble amid fears about faster rate hikes
Asian shares are mostly lower as investors fret that the Federal Reserve might raise interest rates faster if pressure stays high on inflation
By YURI KAGEYAMA
Published - Mar 07, 2023, 11:39 PM ET
Last Updated - Jun 22, 2023, 05:30 PM EDT
TOKYO (AP) — Asian shares were mostly lower Wednesday as investors fretted that the Federal Reserve might raise interest rates faster if pressure stays high on inflation.
Japan's benchmark Nikkei 225 edged up 0.2% in morning trading to 28,370.92. Australia's S&P/ASX 200 slipped nearly 1.0% to 7,291.90. South Korea's Kospi dropped 1.4% to 2,429.83.
Chinese shares sank after officials in Beijing announced plans for a regulatory shakeup. Hong Kong's Hang Seng tumbled 2.5% to 20,021.10, while the Shanghai Composite shed 0.5% to 3,269.33.
