Asian stocks were mostly lower on Thursday as investors continued to fret over the world’s largest economy, the United States, where a key yield curve segment stayed at levels not seen in four decades.
As of 9.24 A.M. (Thai time), the Nikkei 225 in Japan lost 0.19%. South Korea’s Kospi was 0.83% lower at 2,477.45.
In Hong Kong, the Hang Seng index dropped 2.37%, as Chinese technology stocks saw sharp losses after Tencent announced to slash its over $20 billion-stake in Meituan. Mainland China’s Shanghai Composite slid 0.72%.
Meanwhile, Australia’s S&P/ASX 200 gainded 0.16%.
U.S. stock index futures increased Thursday after the S&P 500 and Nasdaq 100 fell Wednesday on speculation that the Federal Reserve might tighten monetary policy even further.
The People’s Bank of China voiced concern that inflation may pick up, which would limit monetary easing, and the benchmarks for Hong Kong and mainland stocks plummeted.
Thailand will host the Asia Pacific Economic Cooperation (APEC) meeting, which will bring together regional economic leaders.