Asian stocks fall
Most of the global financial markets fell during trading today, Wednesday, affected by the state of caution that dominates investors, who are awaiting US inflation data and its effects on the movements of central banks in the United States and major economies, so that “Al-Araby Al-Jadeed” follows market developments today, Wednesday, August 10.
Asian shares fell on Wednesday, dragged down by a slide on Wall Street ahead of US inflation data that investors fear will show upward pressure on prices is still too strong, preventing the Federal Reserve from moving in to cut interest rates.
The Shanghai, Tokyo, Hong Kong and Seoul indices fell, after the benchmark “S&P 500” index on Wall Street fell 0.4%, on Tuesday, in the fourth daily decline after disappointing earnings reports.
China’s Shanghai Composite fell 0.6%, Japan’s Nikkei fell 0.7%, Hong Kong’s Hang Seng fell 2.2%, South Korea’s Kospi fell 0.9%, and the S&P-ASX200 index fell in Sydney. by 0.3%.
The Sensex also started trading in India down 0.1% and the New Zealand and Southeast Asian bourses were lower. On Wednesday, data is expected to show that US inflation eased in July from a four-decade high last month of 9.1%.
But a FactSet survey found that investors expect headline inflation, which strips out volatile food and energy prices, to remain high, focusing on rents and other expenditures. This comes despite other data showing slowing economic activity.
Investors are concerned that global economic growth will be hindered by efforts by the US Federal Reserve and other central banks in Europe and Asia to bring down inflation, which has reached its highest levels in several decades.
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