Asian stock largely slumped on Friday as soaring inflation stroked bets for faster federal reserves rates hike to calm down inflation.
Inflation in the U.S. hit 7.5% in January to a fresh four-decade high. Traders are speculating Fed will raise rate by 175 basis points by the end of the year.
U.S. inflation hit 7.5% in January, a fresh four-decade high, with goods prices soaring and costs for services also starting to pick up. Traders are betting the Fed will raise policy rates by 175 basis points by the end of the year.
The SET, CSI300, HSI, KOSPI and SET inched down by 0.83%, 0.07%, 0.87% and 0.22% respectively.
MSCI broad market Asia index ex Japan is up by 0.82% to 630.69 points.
U.S. equity futures extended decline with Dow Jones, S&P 500 and Nasdaq down by 0.40%, 0.52% and 0.73% respectively.
Treasuries continued climb with U.S. 10-year topping 2.00.
Crude oil climbed underscoring safer bets with WTI up by 0.61% to $90.43 per barrel while Brent up by 0.55% to $91.94 per barrel.
