Asian stocks plummet amid inflation concerns

Thursday, 13. May 2021 07:17

Major indexes in the Asia-Pacific region plummeted on Thursday after a sell-off on Wall Street prompted by fears the Federal Reserve will raise interest rates due to a surge in inflation. Elsewhere, investors awaited Alibaba earnings scheduled for release later in the day.

The Nikkei 225 tumbled 2.07% at 7:13 am CET. The dollar was flat against the yen, boing for 109.69 at 7:14 am CET.

Hong Kong's Hang Seng slid 1.15% at 7:14 am CET. In mainland China, the Shanghai Composite fell 0.89% at 7:13 am CET and the Shenzhen Composite lost 0.28% at 7 am CET.

In South Korea, the Kospi dropped 1.20% at 7:15 am CET and Australia's S&P/ASX 200 declined 0.68% at the same time.

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Breaking the News / NP