Asian markets drop amid US losses

By Agence France-Presse

Sep 15, 2022 12:09 am

HONG KONG: Asian markets opened lower on Wednesday, tracking losses in the United States and Europe after traders responded negatively to higher-than-expected US inflation data, raising fears of a prolonged period of interest rate hikes.

Tokyo, Hong Kong, Shanghai, Seoul, Taipei and Sydney all opened lower at the start of trading, reversing gains made in recent days due to positive market expectations from the US labor department's consumer price index (CPI) report.

NEGATIVE RESPONSE A pedestrian walks past a display showing the numbers for the Hang Seng Index in Hong Kong on Wednesday, Sept. 14, 2022. As Asian markets opened lower, tracking losses in the United States and Europe after traders responded negatively to higher-than-expected US inflation data, raising fears of a prolonged period of interest rate hikes. AFP PHOTO

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