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Asia Staggers on Threat of Higher Rates

Asia Staggers on Threat of Higher Rates

Asia-Pacific markets were mixed on Thursday after the U.S. Federal Reserve’s July minutes showed inflation concerns lingered, which could lead to more rate hikes.

In Japan, the Nikkei 225 index continued their slump, falling 140.82 points, or 0.4%, to 31,626, its lowest level since June. The country saw its trade balance slip into a deficit in July from a surplus in June.

In Hong Kong, the Hang Seng let go of 2.67 points to 18,326.63.

Korean indices dropped for the fifth straight session.

Australian stocks hit their lowest levels in over a month, as the country’s unemployment rate rose slightly to 3.7% in July.

In other markets

In China, the CSI 300 moved up 12.77 points, or 0.3%, to 3,831.10.

In Taiwan, the Taiex index regained 69.88 points, or 0.4%, to 16,516.66.

In Korea, the Kospi index was down 5.79 points, or 0.2%, to 2,519.85.

In Singapore, the Straits Times Index let go of 16.83 points, or 0.5%, to 3,196.75.

In New Zealand, the NZX 50 slumped 111.52 points, or 1%, to 11,651.59.

In Australia, ASX 200 shed 49.17 points, or 0.7%, to 7,146.