Asia stock markets fall

Asian stock markets tumbled Monday after stronger US inflation revived worries the Federal Reserve might hike interest rates again, the Associated Press reported.

Hong Kong’s main market index plunged 2.4%. Shanghai, Tokyo and Sydney also fell. Oil prices sank.

The Shanghai Composite Index fell 1% to 3,156.89 and the Nikkei 225 in Tokyo shed 1.3% to 32,064.14. The Hang Seng in Hong Kong sank to 18,616.11.

The Kospi in South Korea retreated 1% to 2,565.43 and Sydney’s SandP-ASX 200 was 1% lower at 7,270.60.

In energy markets, benchmark US crude lost 87 cents to $82.32 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 37 cents on Friday to $83.19. Brent crude, the price basis for international oil trading, fell 87 cents to $85.94 per barrel in London. It advanced 41 cents on Friday to $86.81 a barrel.

The dollar fell to 144.93 yen from Friday’s 144.97 yen. The euro fell to $1.0934 from $1.0951.

Source: Saudi Press Agency