Asian shares touched its one-month low as higher borrowing costs in the United States and sluggish global economic growth affected riskier investments.
The MSCI Asia Pacific Index lost 1%, while Japan’s Nikkei slipped 0.3%. Hong Kong’s Hang Seng erased 1.2%, while South Korea’s Kospi fell 1.6%.
Share prices somewhat recovered from last month. The surge is about to end for now as markets attempt to “price in a Fed rate hike in December,” said Takeru Ogihara, Chief Strategist at Mizuho Trust Securities.
Meanwhile, investors expected a suppressed start for Europe in the light of Asia’s weak performance, projecting a mildly higher open for France’s CAC, Germany’s DAX, and United Kingdom’s FTSE.
The material has been provided by InstaForex Company – www.instaforex.com