Oil rises nearly 3% after Putin’s speech; Asia markets lower ahead of the Fed’s rate hike

Oil rises nearly 3% after Putin’s speech; Asia markets lower ahead of the Fed’s rate hike

Shares in the Asia-Pacific traded lower Wednesday, following Wall Street’s negative lead ahead of the Federal Reserve’s expected rate hike.

Oil prices rallied in Asia’s afternoon after Russian president, Vladimir Putin, announced a partial military mobilization.

The Nikkei 225 in Japan dropped 1.36% to 27,313.13, while the Topix index also fell 1.36% to 1,920.80. In Australia, the S&P/ASX 200 slipped 1.56% to 6,700.20.

Hong Kong’s Hang Seng index fell 1.6% in the final hour of trade, and the Hang Seng Tech index dropped 2.7%. In mainland China, the Shanghai Composite lost 0.17% to 3,117.18 and the Shenzhen Component was 0.668% lower at 11,208.51.

South Korea’s Kospi declined 0.87% to 2,347.21. MCSI’s broadest index of Asia-Pacific shares outside Japan shed 1.4%.

https://www.cnbc.com/2022/09/21/asia-markets-fed-interest-rates-wall-street-currencies-yields.html


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