HONG KONG, May 18: Asian stocks were sold of brutally on Thursday after a brief respite as US inflation data rattled Wall Street and raised the spectre of further interest rate hikes by the Federal Reserve.
US consumer prices increased a larger-than-expected 0.6 per cent in April, with the key core measure, which excludes volatile food and energy, up 0.3 per cent compared with forecasts for 0.2 per cent.
The news sparked a sharp 1.88 per cent drop on Wall Street, the largest single day fall in three years, in turn sending Tokyo down 1.35 per cent and the rest of Asia with it, particularly Mumbai which crashed 6.76 per cent.
Among the biggest losers on the day, Jakarta fell 4.19 per cent accompanied by Manila which shed 3.44 per cent.
TOKYO: Share prices slumped to a 10-week low, falling for the seventh trading day out of the past eight after a fresh rout on Wall Street.
Dealers said markets around the region had been rattled by the US consumer price data which reignited worries about higher interest rates from the US Federal Reserve.
The Nikkei-225 fell 220.49 points or 1.35 per cent at 16,087.18. Volume was 2.02 billion shares, down from 2.3 billion Wednesday.
Nippon Mining Holdings lost 54 yen to 993.
HONG KONG: Share prices closed 2.10 per cent lower in line with Wall Street’s losses overnight after US inflation data fuelled concerns of a further rise in US interest rates.
The Hang Seng Index closed down 349.03 points at 16,266.52. Turnover was 37.63 billion Hong Kong dollars (4.82 billion US).
SYDNEY: Share prices slumped 1.88 per cent in the largest daily fall since 2003 as investors followed Wall Street’s tumble, with resource stocks taking the biggest hit.
The key S and P/ASX 200 dropped 98.2 points to 5,119.3. A total of 1.64 billion shares worth 5.59 billion dollars (4.23 billion US) changed hands.
SINGAPORE: Share prices closed 1.82 per cent lower on fears of further US interest rate hikes after a bigger than expected jump in inflation.
The Straits Times Index fell 46.51 points to 2,502.18. Volume totalled 1.5 billion shares worth 1.64 billion Singapore dollars (1.04 billion US).
Creative Technology fell 55 cents to 9.45.
KUALA LUMPUR: Share prices closed 1.11 per cent lower, extending their fall from previous sessions as fears over further US interest rate hikes weighed down Asian markets.
The composite index shed 10.62 points to 947.78. Volume was 856.44 million shares worth 1.31 billion ringgit (0.36 billion dollars).
JAKARTA: Share prices tumbled 4.19 per cent on negative domestic sentiment after Indonesia’s central bank said it would review plans to further cut its key interest rate.
The composite index closed down 61.311 points at 1,400.847 on volume of 2.56 billion shares valued at 2.76 trillion rupiah (304.63 million dollars). Telkom dropped 350 rupiah to 7,550.
WELLINGTON: Share prices closed 0.28 per cent lower, but the market held up well considering the magnitude of losses in offshore markets.
The NZSX-50 gross index ended 10.31 points down at 3,639.68, on turnover worth 178.39 million New Zealand (110.07 million US) dollars.
MUMBAI: Share prices plunged 6.76 per cent to close down a record 826.38 points, at 11,391.43, with investors spooked by weaker Asian markets and concerns over US interest rates.—AFP