NEW YORK, May 25 — Asia stocks opened mostly in positive territory today even as global growth concerns and weak US economic data weighed on Wall Street overnight.
On Wall Street, the Nasdaq Composite dropped 2.35 per cent and the S&P 500 lost 0.81 per cent as worries returned over surging global inflation cornering central banks into aggressive rate hikes, thereby slowing growth. New home sales in the US fell 16.6 per cent month-on-month in April, the largest decline in nine years, sending US Treasuries yields down to one-month lows as investors turned once again to safety.
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