Stock market today: Asia dips ahead of US inflation report
Asian shares are declining in muted trading as investors await an upcoming report on U.S. inflation, an important indicator for where interest rates and global growth might go in the coming months
TOKYO AP" target="_self">(AP) — Asian shares declined in muted trading Wednesday as investors awaited an upcoming report on inflation in the United States, an important indicator for where interest rates and global growth might go in the coming months.
Japan's benchmark Nikkei 225 lost 0.4% in afternoon trading to 29,136.92. Australia's S&P/ASX 200 inched down 0.1% to 7,255.70. South Korea's Kospi slipped 0.9% to 2,488.42. Hong Kong's Hang Seng dipped 0.4% to 19,783.56, while the Shanghai Composite shed 1.4% to 3,309.98.
Market watchers are also worried about any signs of economic woes in China after recent data showed imports were lagging, even as exports continued to grow, although at a slower pace than before.
Focus remains on what the U.S. Federal Reserve might do on interest rates. Although the general consensus is that hikes are over for now, that view could quickly change.
