Stock markets across Asia lose ground on inflation, war concerns

Lola Evans
02 Jun 2022, 17:42 GMT+10

Stocks in Asia closed lower on Thursday as investors struggled with inflation fears and the ongoing Ukraine War.
The U.S. dollar, after roaring back to life overnight, began to lose steam in Asian trading Thursday.
In Japan, the Nikkei 225 dipped 44.01 points or 0.16 percent to 27,413.88.

SYDNEY, NSW, Australia - Stocks in Asia closed lower on Thursday as investors struggled with inflation fears and the ongoing Ukraine War.

The U.S. dollar, after roaring back to life overnight, began to lose steam in Asian trading Thursday.

In Japan, the Nikkei 225 dipped 44.01 points or 0.16 percent to 27,413.88.

The Australian All Ordinaries dropped 62.10 points 0.83 percent to 7,400.80.

In New Zealand, the S&P/NZX 50 dipped 23.70 points or 0.21 percent to 11,349.54.

South Korea's Kospi Composite declined 26.91 points or 1.00 percent to 2,658.99.

In Hong Kong, the Hang Seng fell 212.81 points or 1.00 percent to 21,082.13.

Only mainland China's stock markets finished in the black Thursday. The Shanghai Composite added 13.30 points or 0.42 percent to 3,195.46.

On foreign exchange markets, the euro clawed back a portion of its overnight losses, to last trade Thursday in Asia at 1.0683. The British pound jumped to 1.2532. The Japanese yen firmed to 129.90. The Swiss franc was stronger at 0.9588.

The Canadian dollar was little changed at 1.2655. The Australian dollar tread water at 0.7184. The New Zealand dollar crept higher to 0.6496.

Overnight on Wall Street, the Dow Jones industrials fell 176.89 points or 0.54 percent to 32,813.23.

The Nasdaq Composite was off 86.93 points or 0.72 percent at 11,994.46.

The Standard and Poor's 500 dropped 30.92 points or 0.75 percent to 4,101.23.

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