Federal Reserve Chairman Jerome Powell cautioned that the interest rates may need to be higher than expected, and at that particular moment, Hong Kong shares dropped more than 2%, fueling concerns of a potentially larger hike at the next policy meeting.
|Hong Kong||● The Hang Seng index lost 2.53%, led by consumer cyclical, healthcare, and basic materials stocks, leading to losses in the region.
● Mainland China’s Shanghai Composite dropped 0.5%.
● The Shenzhen Component traded down 0.4%.
|Australia||The S&P/ASX 200 was down 0.82% as investors digested Reserve Bank of Australia’s governor Philip Lowe’s speech after the bank’s 25 basis point increase on Tuesday.|
|South Korea||Kospi fell 1.32%|
|Japan||Nikkei 225′s added 0.5% and the Topix inched up 0.3%.|
- Published By Team Hongkong Journalist