The main Asian stock markets closed lower on Tuesday, the 11th, with investors proving cautious ahead of any comments from Federal Reserve Chairman (Fed, the US central bank), Jerome Powell, about possible interest rate hikes and attentive to the spread. of the Omicron variant of the coronavirus in China.
In mainland China, the Shanghai Composite index was down 0.73% to 3,567.44 points, and the less comprehensive Shenzhen Composite index was down 1.06% to 2,441.23 points.
Coming back from a holiday in Japan, the Nikkei dropped 0.90% in Tokyo, to 28,222.48 points, while the Hang Seng registered a slight drop of 0.03% in Hong Kong, to 23,739.06 points.
The South Korean Kospi was practically stable, with a marginal increase of 0.02% in Seoul, at 2,927.38 points, and the Taiex advanced 0.27% in Taiwan, at 18,288.21 points.
Caution prevailed in Asia before Powell attended a hearing on his renewal in the US Senate today. The Fed chairman is expected to comment on speculation that the US central bank may start raising interest rates as of March, as suggested in monetary policy minutes released last week.
Investors in the Asian region and in other parts of the world are also looking forward to new US consumer inflation (CPI) data, which will be released tomorrow (12) and may be decisive for the trajectory of US basic interest rates. Before that, at the end of Tuesday night, Chinese inflation figures will be known.
The developments of Ômicron in China are also on the radar. The city of Tianjin has been placed under partial lockdown after facing a small outbreak of Covid-19 cases.
In Oceania, the Australian stock market followed the negative bias of Asia, and the S&P/ASX 200 fell 0.77% in Sydney, at 7,390.10 points. With information from Dow Jones Newswires.
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