Asia Markets Extend Selloff

Asia-Pacific markets were all lower Friday, extending losses from Thursday’s broad selloff.

In Japan, the Nikkei 225 lost another 171.26 points, or 1.9%, to finish the week at 31,259.36, after data showed Japan’s headline inflation rate slowed in September.

Asia investors will also assess Japan’s September inflation data, which came in at 3%, the 18th straight month above the BOJ’s 2% target, as well as China’s one-year and five-year loan prime rates.

In Hong Kong, the Hang Seng shed 123.76 points, or 0.7%, to 17,172.13.

This comes as U.S. Federal Reserve Chair Jerome Powell said inflation was still too high and would likely require lower economic growth. The benchmark U.S. 10-year Treasury yield also crossed 5% for the first time in 16 years Thursday evening.


In Shanghai, the CSI 300 sank 22.95 points, or 0.7%, to 3,510.59,

China’s central bank kept its benchmark loan rates unchanged for October.

In other markets

In Taiwan, the Taiex dipped 12.01 points, or 0.1%, to 16,450.72.

In Korea, the Kospi index deleted 40.8 points, or 1.7%, to 2,375.

In Singapore, the Straits Times Index faded 22.91 points, or 0.7%, to 3,076.69.

In New Zealand, the NZX 50 subtracted 141.5 points, or 1.3%, to 10,994.09.

In Australia, the ASX 200 dropped 80.88 points, or 1.2%, to 6,900.72.

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