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5/13, 4:43 AM (Source: TeleTrader)
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Asia trades lower amid inflation fears

Major stock markets in the Asia-Pacific region traded lower, following Wall Street's plunge amid new inflation data. Earlier, the United States reported its inflation level was at a 12-year high, which prompted fears that interest rates might go up, while experts stated that "volatile inflation" was expected due to the pandemic. Meanwhile, the Bank of Japan Governor commented that Japan's economy was picking up but warned the situation was still severe.

The Nikkei 225 traded 1.84% lower at 4:35 am CET. The Hang Seng dropped 1.03% at 4:39 am CET, while the Kospi Composite decreased by 0.42% concurrently. The S&P/ASX 200 was down 0.42% at 4:39 am CET.

In mainland China, the Shanghai Composite decreased 0.84% at 4:26 am CET, while the Shenzhen Composite declined 0.80% at 4:40 am CET.

The dollar stood flat against the yen, trading for ¥109.6210 at 4:42 am CET.

Breaking the News / OL