Asian stock markets follow Wall Street downtrend

Asian stock markets follow Wall Street downtrend
financial markets

The most important indices in Asia started the day weakly.

(Photo: dpa)

Singapore / Tokyo Asian stock markets followed Wall Street’s downtrend on Friday. The prospect of aggressive rate hikes by the Federal Reserve Bank and recession risks continued to weigh on investor sentiment. “The problem is that the macro environment remains challenging,” said Shane Oliver, chief economist at AMP Capital. He added that the market is in a tug-of-war between investors who see opportunities and those who are focused on the difficult environment.

The Nikkei index, which comprises 225 values, was 0.2 percent lower at 26,952 points. The broader Topix index fell 0.4 percent to 1888 points.

The Shanghai stock exchange was up 0.7 percent. The index of the most important companies in Shanghai and Shenzhen gained 0.4 percent.

Japan’s consumer inflation hits eight-year high

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