Asian equities fell on Friday, tracking US markets’ reaction to hawkish signals from the US Federal Reserve the previous day.
Hong Kong’s Hang Seng shed 0.5 per cent, China’s CSI 300 was down 0.7 per cent, and Japan’s Topix declined 0.3 per cent. South Korea’s Kospi fell furthest, down 1.1 per cent.
Dallas Fed president Lorie Logan on Thursday described market data as “clearly pretty hot”, expressing the need to act promptly to restore price stability. Strong private hiring numbers also surprised analysts, indicative of the inflationary threat.
Those signals knocked both the S&P 500 and the Nasdaq Composite down 0.8 per cent.
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