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6/22, 7:08 AM (Source: TeleTrader)
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Asia mostly lower as recession fears linger

Major stock markets in Asia-Pacific traded mostly lower on Wednesday despite Wall Street’s rally from yesterday, as investors are still showing concerns over a possible recession with discussions on further rate hikes continuing.

In contrast to the Western central banks tightening monetary policy, the Bank of Japan's Board revealed that it is ready to ease its policy and even lower its interest rates in order to maintain the stability of the financial system and ensure a timely recovery from the pandemic.

In mainland China, the Shanghai Composite lost 0.38% at 7:04 am CET, with the Shenzhen Composite declining 0.44% a minute later. At 7:06 am CET, South Korea's Kospi Composite decreased 1.80%, while Hong Kong's Hang Seng slid 1.19% at the same time. Both Australia's S&P/ASX 200 and Japan's Nikkei 225 were flat at 7:07 am CET. The dollar was 0.32% down against the yen at 7:08 am CET, selling for 136.18600.

Baha Breaking News (BBN) / AY