Asian stocks fall as investors eye US Fed outlook

HONG KONG, Aug 24 — Asian markets were mostly lower today as investors await news on the next US interest rate hikes.

Central banks face a delicate balancing act between battling inflation, with Russia’s war in Ukraine sending energy prices soaring, and avoiding recession. Tokyo closed down 0.5 per cent and Hong Kong, Shanghai and Taipei also fell while Seoul, Sydney and Wellington rose. “Hong Kong and China stock markets continue to perform weaker than Asian peers as they face higher uncertainties.”The euro tumbled to US$0.9901 — a new two-decade low — yesterday but later clawed back losses as the greenback was hit by poor US economic data.

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