From Investing: 2024-04-15 22:44:28

Asian stocks dropped on Tuesday following a Wall Street decline, as concern over Middle East tensions and U.S. interest rates heightened. Chinese stocks fared better due to strong GDP growth in the first quarter. Despite some positive data, fears of inflation and long-term interest rates weighed on markets globally.

China’s GDP expanded by 5.3%, surpassing expectations and indicating progress toward the government’s 5% annual target. However, other economic indicators suggested a potential slowdown. Hong Kong’s stocks fell by 1.5% amid broader market volatility in Asia.

Investors are awaiting Federal Reserve Chair Jerome Powell’s speech for insights into future interest rate decisions. Hotter-than-expected inflation data and strong retail sales figures have raised concerns of prolonged rate increases, leading to a sell-off in Asian markets.

Japanese and South Korean stocks fell significantly, while Australian markets also experienced losses. Indian markets are expected to open weak after recent record highs. Continued uncertainty around U.S. interest rates remains a key driver of market volatility in Asia.



Read more at Investing: Asian stocks tumble on US rate jitters, China GDP helps soothe losses By Investing.com