Asian Markets: Asian stock markets decline - tech sell-off and interest rate concerns weigh heavily
Asian investors are digesting disappointing inflation data from Japan. In China, the CSI300 is meanwhile slipping into a bear market.
Asian stock markets fell on Friday due to a massive sell-off in US tech stocks and geopolitical tensions. In Tokyo, the Nikkei Index dropped 1.7% to 61,825 points, while the Topix index fell 1.8% to 3,925 points. China's Shanghai stock exchange lost 1.5% to 3,605 points, and the index of major companies in Shanghai and Shenzhen declined 0.8% to 4,003 points. Japan's core inflation rate rose to 2.1% in September, exceeding the Bank of Japan's target and increasing the likelihood of a rate hike.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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