From Investing.com: 2024-04-10 22:17:33

Most Asian stocks fell on Thursday as U.S. inflation data dashed hopes for early Fed rate cuts. Chinese stocks declined after CPI shrank more than expected in March, signaling ongoing economic struggles. Losses in mainland stocks dragged down Hong Kong and Australian markets, while Japanese exporters offered some support despite a weakened yen.

The prospect of higher U.S. interest rates led to the evaporation of June rate cut bets across Asian markets. Hawkish Fed minutes and strong CPI data prompted a sell-off in risk-driven assets, slashing odds of a rate cut in June. Markets are now pricing in an 80% chance for a hold and 17.5% chance of a rate cut.



Read more at Investing.com: Asian stocks retreat amid US, China CPI jitters By Investing.com