Asian markets bloodbath amid risks of US Inflation data; Japan-Nikkei hits 4-month low

13 Jun 2022 , 02:10 PM

Asian markets slumped on Monday as investors fear a stringent Federal Reserve policy post disclosure of US inflation data. To add to the investor woes, Covid-19 warning from Beijing has raised global growth concerns.

Japan’s Nikkei tumbled the sharpest in the last four months on Monday, driven by a weak momentum in the Japanese Yen. The Nikkei index closed 3.01% lower at 26,987.44 points. The Japanese Yen stooped to the lowest levels in more than 2 decades.

The broader Topix dipped by 2.16% to 1,901.06.

Hong Kong’s – Hang Seng was among the worst-hit indices today. It ended 3.45% lower at 21,053.99 points. Taiwan TSEC lost 2.36% at 16,070.98 points.

Chinese index Shanghai SE Composite fell 0.89% at 3,255.55 points.

On the global front, US markets marked their biggest weekly drop since January, over the unexpected US Inflation spike. Dow Jones ended 2.73% lower at 31,392.79 points.

Domestically, Indian markets swinging in red territory as investors fear a sharp hike ahead of Federal Policy.

At around 1.59 PM, BSE Sensex was trading 1,770 points (3.26%) lower at 52,533.29 points. NSE Nifty lost 511 points so far at 15,691 points.

The Indian currency fell to its all-time low of 78.20 against the greenback in today’s early trade. Thereby, settling at 78.07 against US Dollar in today’s trade so far.