Asian shares track technology-led sell-off on Wall Street
ABC News
Shares have declined in Asia following the release of U.S. inflation data that was worse than expected
Shares fell in Asia on Thursday after the release of worse inflation data than expected sparked heavy selling of technology stocks on Wall Street.
Hong Kong’s benchmark fell 2.2% to 19385.47 following the arrests of several prominent democracy advocates, including a retired Roman Catholic cardinal.
The arrests of Cardinal Joseph Zen, singer Denise Ho and others followed the choice last weekend of a hard-line chief executive for the semi-autonomous Chinese territory, where Beijing has been tightening controls.
More broadly, markets are focused on inflation as central banks wind down support for economies that was rolled out during the pandemic. The U.S. Federal Reserve, for example, has flipped aggressively toward raising interest rates after seeing high inflation last longer than it expected.
