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17 Dec, 2021 Posted by - Admin

Asian stocks hit 9-month lows on worries over China economy, US rates

SINGAPORE (Reuters) - Asian shares slid to nine-month lows on Thursday, while the dollar was at two-month peak as fears over China's sluggish economic recovery and concerns that the Federal Reserve may still raise interest rates rattled investors.
MSCI's broadest index of Asia-Pacific shares outside Japan slid to 495.03, its lowest since Nov. 29. It was last down 1.14% at 497.11, with the index down 8% for August and set for its worst monthly performance since September.
Losses were broad-based across Asia Pacific on Thursday, with Japan's Nikkei and Australia's S&P/ASX 200 index down 1%.
China's blue-chip CSI 300 Index was 0.45% lower, while the Hong Kong's Hang Seng Index fell 1.7% and was at near nine month lows.
China stocks have been in the doldrums as a series of economic data has laid bare the stuttering post-pandemic recovery, with investors so far unimpressed with moves from policymakers.