Asian stocks lose gains made on shorter China quarantine as recession fears persist

Japan's Nikkei index fell 0.98%, while MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.37%, dragged lower by Australian shares, off 0.81%, and Korea's KOSPI, down 1.54%.

Chinese blue chips, which hit a four month high the day before, lost 1.16% while the Hong Kong benchmark fell 1.83%.The losses in Asia followed a turbulent day on U.S. markets, with the S&P 500 index down more than 2% after data showed U.S. consumer confidence dropped to a 16-month low in June due to fears high inflation could cause the economy to slow significantly in the second half of the year.

Renewed worries over the potential for a global recession drove investors into the safe haven dollar, and the dollar index remained firm at 104.5.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks lose bounce from shorter China quarantine, slip on inflation fearsTOKYO, June 29 — Stocks fell across Asia on Wednesday morning, extending overnight losses on Wall Street amid concerns over recession, inflation and high oil prices, which also...
Source: malaymail - 🏆 1. / 86 Read more »

Stocks, oil edge up as China relaxes quarantine rulesLONDON, June 28 — Global shares moved into positive territory today while oil prices firmed following China&039;s decision to ease some quarantine requirements for international...
Source: malaymail - 🏆 1. / 86 Read more »