Asia trades lower after Fed comments

Thursday, 09. September 2021 05:23

Stocks in Asia-Pacific traded lower on Thursday on growing market concerns about a slowdown in global economic growth.

In the Fed's Beige Book, the US central bank failed to reassure investors after last weeks' disappointing jobs report, admitting that the nation's economic growth had "downshifted" during the past two months. On the other hand, in China, the country's National Bureau of Statistics released its latest CPI data, which landed below market estimates in August.

In mainland China, the Shanghai Composite traded flat at 5:18 am CET, with the Shenzhen Composite losing 0.51% a minute later. At 5:18 am CET, the Australian S&P/ASX 200 decreased by 1.53%, Hong Kong's Hang Seng fell by 1.52% and South Korea's Kospi went 1.14% down, as the dollar went 0.05% down against the yen, going for ¥110.1635. Japan's Nikkei 225 fell by at 0.46% at 4:35 am CET.

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