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Tech drags Hong Kong stocks, dollar squeezed as US inflation slows

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Asian stocks struggled on Thursday, dragged by selling in Hong Kong tech shares, while the dollar was under pressure and short-dated bonds were firm as softening U.S. inflation seemed to suggest the U.S. rate hike cycle was nearing its end.

U.S. consumer prices

Minutes from the Federal Reserve's March meeting also showed some policymakers considered pausing hikes, before agreeing to last month's 25 basis point rise, with concerns centering on whether bank wobbles would cause a broader tightening in credit. "But the jury is still out on whether it still has a meaningful impact on U.S. growth. That part of the equation is still being worked out. It could slow down further dollar weakness."

 

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