Asian stocks lose ground as traders await US inflation data

Stock prices displayed inside the trading gallery of the RHB Investment Bank Bhd. headquarters in Kuala Lumpur, Malaysia. File photo: BLOOMBERG/SAMSUL SAID

China’s CSI300 index and the Shanghai Composite index fell 0.33% and 0.21% respectively as a fears of a surge in Covid-19 infections after the dismantling of key parts of government’s zero-Covid policy clouded the outlook for the world’s second-biggest economy. Treasury secretary Janet Yellen struck a cautious note on Sunday, saying she expected a substantial slowdown in 2023 inflation, but that the US economy remained prone to shocks.

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