Asian stocks closed lower on Wednesday (22), ignoring a rally in New York and awaiting comments from Federal Reserve Chairman Jerome Powell, amid concerns about the effects. recessionary interest rate hikes.
In mainland China, the Shanghai Composite stock index fell 1.20% to 3,267.20 points in its third negative session, while the less comprehensive Shenzhen Composite shed 1.28% to 2,119.82 points.
Elsewhere in Asia, Hang Seng slumped 2.56% in Hong Kong to 21,008.34, pressured by tech and oil stocks, while South Korean Kospi posted an even steeper loss in Seoul, 2 74% to 2,342.81 points, its lowest level in 19 months, and the Taiex fell 2.42% in Taiwan, to 15,347.75 points.
Also pressured by oil companies, the Japanese Nikkei showed a moderate drop in Tokyo, of 0.37%, at 26,149.55 points.
Global investors are looking forward to a testimony from Powell in the U.S. Senate on Wednesday, after the Fed launched its biggest rate hike since 1994 last week in a new attempt to combat soaring inflation, reinforcing fears that the U.S. could go into recession.
Last Tuesday, Wall Street experienced a rally after recent losses, but futures indexes suggest that New York stock markets will resume their bad mood this Wednesday.
Concerns about a possible recession, not just in the US but in the global economy as a whole, helped to bring down oil prices this morning.
According to ReutersUS President Joe Biden is also expected to ask for a temporary suspension of the federal tax on gasoline this Wednesday, in order to reduce fuel costs.
Oceania
In Oceania, the Australian stock exchange returned to the red on Wednesday, after interrupting a long sequence of negative sessions on Tuesday.
The S&P/ASX 200 fell 0.23% in Sydney to 6,508.50 points.
Source: CNN Brasil
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