Asian stocks fell on Wednesday after the Wall Street crash yesterday, as investors remained mired in worries about the inflation rally, rising interest rates and the risk of recession.
US market indices closed at a lows yesterday amid senior Federal Reserve officials saying the central bank would continue to work hard to reduce inflation. At the same time, data released yesterday showed that consumer confidence fell to a 16-month low.
On the board, the Japanese Nikkei 225 loses 0.9% to 26,804.60 points.
In Hong Kong, the Hang Seng index plunged 1.9%, while in mainland China the Shanghai Composite fell 1%.
South Korea’s Kospi is down 1.5%, while Australia’s S & P / ASX 200 is down 0.65%. Indicators in Thailand and India are also falling.
At the end of the day, data released today in Japan showed that retail sales increased for the third consecutive month in May.
In particular, retail sales rose 3.6% in May from a year earlier, according to government data, slightly higher than the average forecast for a 3.3% increase.
At the same time, the consumer confidence index fell in June for the first time in the quarter, to 32.1 points from 34.1 points in May, according to separate data.
This is the lowest level since January 2021, when rising coronavirus cases reduced consumers’ willingness to spend.
Source: Capital
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