Asian indices tracked sell off of technology shares on Thursday following a overnight losses in the U.S. amid rising concerns of more aggressive monetary policy tightening by the Federal Reserves.
The MSCI AC Asia Pacific Communication Services index dropped as much as 1.5%, according to Bloomberg. The SET, KOSPI, TOPIX, CSI 300 and HSI shed losses by 0.89%, 0.76%, 1.97%, 0.86% and 0.39% respectively.
The selloff followed as Fed earlier in their meeting minutes said amid strong economic recovery and higher inflation it may lead to earlier and faster hike in interest rate than expected.
