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.
| Country | Stocks’ Brief |
| 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
