TOKYO : Asian share markets slipped on Wednesday as investors faced up to the possibility of aggressive monetary tightening by the U.S. Federal Reserve to fight inflation, while focus was also on new Western sanctions against Russia over its invasion of Ukraine.
Markets in mainland China were set to reopen after two days of public holidays. Chinese authorities extended a lockdown in Shanghai on Tuesday to cover all of the financial centre's 26 million people, despite growing anger over quarantine rules in the city. "It's currently considered an 80per cent chance the Fed will take that course," said Kyle Rodda, a market analyst at IG in Melbourne. Investors hadn't fully priced in such a move, so greater evidence for it may move markets, Rodda added.