Fed minutes push Asian stocks deeper ahead of US CPI data

Fed minutes push Asian stocks deeper ahead of US CPI data
financial markets in Japan

Investors in Asia are looking to the US with concern.

(Photo: dpa)

Frankfurt, Tokyo Investors in Asia are ducking ahead of Thursday’s expected US CPI. The latest Fed minutes had fueled concerns among investors about further large rate hikes by the US Federal Reserve. Monetary authorities believe that “the cost of doing too little to bring down inflation is likely to outweigh the cost of doing too much.”

The Nikkei index, which comprises 225 values, was 0.5 percent lower at 26,260 points. The broader Topix index fell 0.7 percent to 1856 points. The Shanghai stock exchange was down 0.3 percent. The index of the most important companies in Shanghai and Shenzhen lost 0.7 percent.

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