Asian stock markets were mixed Thursday after Wall Street steadied following a plunge on worries about more U.S. interest rate hikes.
The Shanghai Composite Index CN:SHCOMP lost 0.3% after China’s government reported inflation decelerated in February to 1% over a year earlier from the previous month’s 2.5%. The Hang Seng HK:HSI in Hong Kong gained 0.2%.The Shanghai Composite Index SHCOMP lost 0.3% after China’s government reported inflation decelerated in February to 1% over a year earlier from the previous month’s 2.5%. The Hang Seng HSI in Hong Kong gained 0.2%.
Wall Street’s benchmark S&P 500 index recovered some of the previous day’s loss following Federal Reserve chair Jerome Powell’s warning rate hikes might speed up because upward pressure on prices is stronger than expected. On Wall Street, the S&P 500 SPX rose 0.1% to 3,992.01. The Dow Jones Industrial Average DJIA fell 58.06, or 0.2%, to 32,798.40, while the Nasdaq composite COMP added 45.67, or 0.4%, to 11,576.00.
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