Tue, 27 Sep 2022

Asian stocks slide again, U.S. stock rally extends

Lola Evans
22 Sep 2022, 16:34 GMT+10

TOKYO, Japan - Stocks in Asia continued sliding Thursday, extending losses related to the U.S. Federal Reserve's aspirations to stamp out inflation by aggressively hiking interest rates.

In Japan, the Nikkei 225 dropped 152.29 points or 0.56 percent to 27,160.54.

New Zealand's S&P/NZX 50 went against the trend, adding 19.37 points or 0.17 percent to 11,518.32.

In South Korea, the Kospi Composite slid 15.73 points or 0.67 percent to 2,331.48.

The Australian stock market was closed for a public holiday.

In Hong Kong, the Hang Seng dived 296.67 points or 1.61 percent to 18,147.95.

China's Shanghai Composite closed down 8.27 points or 0.27 percent at 3,108.91.

The U.S. dollar continued to climb. The euro was knocked down to 0.9820 by the close in Tokyo Thursday. The British pound sank to 1.1226. The Japanese yen was sharply lower at 145.19. The Swiss franc inched down to 0.9657.

The Canadian dollar slumped to 1.3527. The Australian dollar slipped to 0.6595. The New Zealand dollar tumbled to 0.5821.

Overnight on Wall Street, the Dow Jones industrials shed 522.45 points or 1.70 percent to 30,183.78.

The Nasdaq Composite declined 204.86 points or 1.79 percent to 11,220.19.

The Standard and Poor's 500 dropped 66.00 points or 1.71 percent to 3,789.93.

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