Asian shares fall to lowest in 15 months after US Fed nails on March rate rise

Asian shares fall to lowest in 15 months after US Fed nails on March rate rise

1/27/2022 9:18:00 AM

Asian shares fall to lowest in 15 months after US Fed nails on March rate rise

Markets in Japan and Korea lose more than 3% on fears of costlier borrowing, with FTSE and Wall Street on course to follow suit

Photograph: Kin Cheung/APA woman walks past a bank's electronic board showing the Hong Kong share index in Hong Kong on Thursday.Photograph: Kin Cheung/APThu 27 Jan 2022 05.52 GMTLast modified on Thu 27 Jan 2022 06.14 GMTStock markets in Asia have tumbled to their lowest in nearly 15 months after America’s central bank chief confirmed widely expected plans to increase interest rates this year, beginning in March.

With investors also concerned about political tensions between Russia and Ukraine, supply chain problems and rising oil prices, the prospect of sustained increases in the cost of borrowing by the world’s most powerful economy sent a spasm of anxiety through financial markets on Thursday.

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LOL. Why East Asia always represents Asia, what about West, North, Southwest, South and Southeast Asia?

A woman walks past a bank's electronic board showing the Hong Kong share index in Hong Kong on Thursday. Photograph: Kin Cheung/AP A woman walks past a bank's electronic board showing the Hong Kong share index in Hong Kong on Thursday. Photograph: Kin Cheung/AP Thu 27 Jan 2022 05.52 GMT Last modified on Thu 27 Jan 2022 06.14 GMT Stock markets in Asia have tumbled to their lowest in nearly 15 months after America’s central bank chief confirmed widely expected plans to increase interest rates this year, beginning in March. With investors also concerned about political tensions between Russia and Ukraine, supply chain problems and rising oil prices, the prospect of sustained increases in the cost of borrowing by the world’s most powerful economy sent a spasm of anxiety through financial markets on Thursday. The Nikkei in Japan led the way as it plunged more than 3% while the Kospi in Seoul found itself in similarly negative territory. The market in Hong Kong was off 2.5% and Sydney shed nearly 2%. Read more MSCI’s broad gauge of regional markets outside Japan fell more than 2% to its lowest level since November 2020. The drop echoed a sharp reversal in US shares on Wednesday. The S&P 500 closed 0.14% lower and the Nasdaq Composite finished barely higher, erasing a rise of more than 3.4%. The Dow Jones average slipped 0.38%. Markets messier than that friend with a kebab at 3am. US futures -1% Korea poised for bear market Australia poised for correction Asia FX down We're just a few hours removed from Fed briefing so let's give this time to settle, hopefully.