Asian shares see turbulent start on inflation concerns

Asian shares see turbulent start on inflation concerns

Asian share markets started their Wednesday session turbulently. The series of declines, which came after a wild fluctuation in U.S. and European overnight trading, could be attributed to surging interest rates and rich equity valuations. 

Asia’s early performance sent Australia’s S&P/ASX 200 0.5% lower. South Korea’s KOSPI declined 0.4%, while Japan’s Nikkei recorded a 0.9% drop. Futures for Hong Kong’s Hang Seng index plunged 0.37%.

On Wall Street, the tech-heavy Nasdaq ended its session with a 0.5% decline. This followed after investors took profits, withdrawing from tech-related stocks that boosted the market last March. In turn, the Dow and the S&P 500 advanced, gaining attention from investors in expectations that stocks under these indexes will perform well as the global economy recovers.

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