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Asian markets sell off as AI trades crumble after hot US CPI data
SINGAPORE: Markets started the day on the back foot as trading kicked off in Asia on Thursday, as a quicker-than-expected increase in US consumer price inflation upped expectations for the Federal Reserve to act later this year and pushed stocks lower. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.2%, led by a 5.6% plunge in South Korea’s KOSPI, while the Nikkei 225 fell 1.3%. S&P 500 e-mini futures were down 0.3%. “Asia faces another difficult session,” said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne. “KOSPI and Nikkei futures point to...
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