TOKYO : Asian markets extended the global stocks selloff on Wednesday, as investor worries about aggressive monetary tightening were inflamed further by strong U.S. jobs data.The overnight JOLTS report on job openings - closely watched by the Federal Reserve - pointed to extremely tight labour conditions,
TOKYO : Asian markets extended the global stocks selloff on Wednesday, as investor worries about aggressive monetary tightening were inflamed further by strong U.S. jobs data.
"The strong JOLTS data and Fed rhetoric was the overwhelming narrative," knocking stocks further and pushing up bond yields, Tapas Strickland, an analyst at National Australia Bank, wrote in a note to clients. Chinese blue chips retreated 0.5 per cent. Hong Kong's Hang Seng slumped 1.8 per cent, with its tech shares tumbling 2.5 per cent.
Money markets currently place 68.5 per cent odds of a 75 basis-point increase by the Fed on Sept. 21.
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