Asian shares sink on Thursday close amid global selloff
Worse-than-expected US inflation data fueled concerns of aggressive monetary tightening
ANKARA
Asian stock markets closed in the red on Thursday as yesterday's worse-than-expected US inflation data fueled fears of aggressive monetary tightening, which could cause an economic slowdown.
US annual inflation hit 8.3% in April after posting the largest 12-month rise since December 1981 the previous month, while China’s annual inflation rate rose to 2.1% in April, up from 1.5% in March.
The Asia Dow, which includes blue-chip companies in the region, fell 47.8 points or 1.47% to 3,202.
Tokyo's Nikkei 225 stock exchange slipped 464.9 points, or 1.77%, to 25,748.
The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, posted the largest decline among other major markets, down 444.2 points, or 2.24%, to 19,380.
China's Shanghai Stock Exchange lost 3.7 points, or 1.12%, to close at 3,054 points.
The Indian Sensex benchmark went down 1,132 points, or 2.09%, to end the day at 52.956 points.
The Singapore index fell 60.9 points, or 1.89%, to 3,165.
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