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Aug 29, 2022 05:11 PM
FINANCE

Asian Stocks Near Two-Year Low as Fed Chair Spurs Risk-Off Mood

An electronic ticker board displays stock prices inside the Indonesia Stock Exchange in Jakarta in January 2016. Photo: Bloomberg
An electronic ticker board displays stock prices inside the Indonesia Stock Exchange in Jakarta in January 2016. Photo: Bloomberg

(Bloomberg) — Asian stocks tumbled, with the regional benchmark approaching a two-year low reached mid-July, as investors fled risk assets after the Federal Reserve signaled it will keep raising interest rates to rein in inflation.

The MSCI Asia Pacific Index slumped as much as 2.3%, the most since June 13, with technology, financials and industrials the worst-performing sectors. Key equity gauges in Japan and Taiwan led regional losses, sliding close to 3% each.

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