Japan’s Nikkei leads losses in Asian markets amid the fear of rate hike, China property market woes

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Most Asian stock markets trade lower on Thursday as investors were concerned about the possible additional interest rate hike from the Federal Reserve

At press time, China’s Shanghai is up 0.15% to 3,111, the Shenzhen Component Index rises 0.08% to 10,112, Hong Kong’s Hang Sang drops 0.88% to 17,458, South Japan’s Nikkei falls 1.76% and trading was closed in South Korea for a holiday.

Trading in China Evergrande Group shares was halted on Thursday after a report that its Chairman Hui Ka Yan had been placed under police watch, raising fears about the cash-strapped developer's future amid mounting liquidation risk. The prospect of higher US interest rates and rising Treasury yields weigh on heavyweight technology stocks in Japan. Meanwhile,currently trades near the 150.00 mark on Thursday, which triggers some fear that Japanese authorities would take action to address the Japanese Yen's depreciation. On Wednesday, Japanese Finance Minister Shunichi Suzuki is back on the wires with some verbal intervention. Suzuki said once again that he was watching FX with a sense of urgency.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

 

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Belgique Dernières Nouvelles, Belgique Actualités

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