Asia Follows N. American Markets Down
Asia-Pacific markets are trading lower across the board on Thursday after the latest Wall Street rally cooled overnight and July minutes from the U.S. Federal Open Market Committee pointed to“little evidence inflation pressures were subsiding” at the time of the meeting.
The Nikkei 225 faltered 280.63 points, or 1%, to 28,942.14
In Hong Kong, the Hang Seng index lost 158.54 points, or 0.8%, to 19,763.91.
After hiking rates by 50 basis points Wednesday, Reserve Bank of New Zealand Governor Adrian Orr said on Thursday he was confident inflation was falling.
After the market closed Wednesday, Tencent posted its first ever quarterly sales fall. The company said its earnings were hurt by a lack of game approvals and regulations that limit playing time and a weak economy that hurt ad sales. On Thursday, shares of Tencent bounced 3.1%.
In other markets
In Shanghai, the CSI 300 fell 36.86 points, or 0.9%, to 4,180.10.
In Taiwan, the Taiex slid 68.69 points, or 0.4%, to 15,397.76
In Korea, the Kospi index dropped 8.42 points, or 0.3%, to 2,508.05
In Singapore, the Straits Times Index gained 10.72 points, or 0.3%, to 3,273.48.
In Australia, the ASX 200 subtracted 14.91 points, or 0.2%, to 7,112.78.
In New Zealand, the NZX bowed 38.59 points, or 0.3%, to 11,815.34
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