Asia stocks slip as risk appetite wanes on rate-hike fears

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Asian shares fell on Thursday to their lowest since April 2020 as risk appetite among investors faded after inflation data across the globe re-ignited fears of aggressive interest rate hikes by the Federal Reserve.

China on Thursday kept its benchmark lending rates unchanged for a second straight month as authorities held off unleashing more monetary stimulus to avoid stark policy divergence with other major economies.

"It's worth considering whether a call for a General Election might actually be positive for sterling," ING economists said in a note. The U.S. central bank is widely expected to raise rates by 75 basis points for the fourth straight time at its November meeting.survey of economic activity showed that there was there was some easing in several districts, but firms noted price pressures remained elevated.

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