Asia-Pacific markets were largely lower as investors braced for further hikes ahead as U.S. Federal Reserve speakers reiterated more hikes are needed to tame inflation.
The Nikkei 225 in Japan dropped 17.66 points, or 0.1%, to 27,498.87,
In Hong Kong, the Hang Seng Index docked 190.25 points, or 0.9%, to 20,429.46.
Asia’s Tesla suppliers were also closely watched as the company’s stock fell more than 5% in after hour trade as Investor Day fell short on details about any new products or services.
CHINA
The Shanghai CSI 300 fell 9.2 points, or 0.2%, to 4,117.74.
China’s economy is likely to grow at a faster pace of 5.5% this year, compared with 2022's figure of 3%, and as such, executive director and macro analyst at China International Capital Jundong Zhang thinks this will bode well for Asian markets.
He estimates retail sales of consumer goods will grow 7.7% in 2023, mainly from the conversion of excess savings. Fixed asset investments are expected to grow 8%.
In other markets
In Singapore, the Straits Times slid 20.18 points, or 0.6%, to 3,234.90.
In Taiwan, the Taiex eked up 0.23 points to 15,598.72.
In Korea, the Kospi returned to trading with a gain of 15 points, or 0.6%, to 2,427.85
In New Zealand, the NZX 50 regained 24.51 points, or 0.2%, to 11,900.86.
In Australia, the ASX 200 recovered 3.76 points, or 0.1%, to 7,255.36.
