Stocks in Asia slump on rate jitters

© Reuters. FILE PHOTO: Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo

It is, however, still set for a decent gain of 1.4% for the week, snapping a three-week losing streak.An increase in U.S. consumer prices for September contained a surprise surge in rental costs and traders now see a stronger chance that the Fed will end up delivering another hike this year. Separate data also showed the number of Americans receiving benefits after an initial week of aid, a proxy for hiring, increased 30,000 to a still-low 1.702 million during the week ended Sept. 30.

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