Asia Pacific markets traded lower on Wednesday after the release of U.S. inflation data that came in hotter-than-expected. It further raised expectations that the U.S. Federal Reserve will continue to raise interest rates to curb inflation.
The Nikkei 225 index lost 100.91 points, or 0.4%, to 27,501.86.
In Hong Kong, the Hang Seng index dumped 301.59 points, or 1.4%, to 20,812.17.
Korean markets were bruised as investors digested the nation’s unemployment rate.
Australian markets also took some lumps as financials saw sharp losses after Reserve Bank of Australia’s governor Philip Lowe reiterated that inflation remains “too high.”
In other markets
The Shanghai CSI 300 dipped 21.6 points, or 0.5%, to 4,123.69.
In Korea, the Kospi slid 37.74 points, or 1.5%, to 2,427.90.
In Singapore, the Straits Times dropped 37.38 points, or 1.1%, to 3,280.82.
In Taiwan, the Taiex faltered 221.59 points, or 1.4%, to 15,432.89.
In New Zealand, the NZX 50 nicked up 8.65 points, or 0.1%, to 12,083.12.
In Australia, the ASX 200 slumped 78.65 points, or 1.1%, to 7,352.21.