Asian stock markets are moving negatively on Friday after heavy losses on Wall Street yesterday as speculation intensifies that central banks will step up their efforts to tackle inflation in the near future, leading to large increases in their interest rates.
The European Central Bank announced yesterday its next moves in the fight against inflation, “closing” the quantitative easing program in July to be followed shortly afterwards by the first increase in interest rates in more than 10 years. In embarking on its policy tightening cycle, the ECB is following the US Federal Reserve and the Bank of England, among others, which have already raised interest rates to tackle inflation.
On the board, the Japanese Nikkei 225 index fell 1.5% to 27,831.95 points.
In Hong Kong, Hang Seng is moving with marginal losses, although it was found to be moving upwards earlier. In mainland China, the Shanghai Composite rose 1% after the government announced that inflation remained within tolerable levels, at 2.1% in May.
South Korea’s Kospi lost 1.1%, while in Australia the S & P / ASX 200 fell 1.25%.
Source: Capital
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