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