Losses in stocks deepened in Asia Pacific Region.
Asian stocks fell sharply in Tuesday trading after the volatile session in the US the previous day. Indices, which started negative on Wall Street, recovered during the day and managed to turn their course positive at the close.
Losses in indices in Japan and Hong Kong fell by 2 percent. Automotive and technology stocks led the losses in the Nikkei 225 index.
The S&P/ASX 200 Index fell 3 percent in Australia with losses in the banking and mining sector. According to data released by Australia, inflation in the country was 1.3 percent in the fourth quarter.
Losses in the South Korean Kospi Index were close to 2 percent. The Central Bank of Korea reported that the South Korean economy grew by 1.1 percent in the fourth quarter of 2021 compared to the same period of the previous year. The whole year’s growth in the country reached the peak of 11 years and was 4 percent. In mainland China, indices were dominated by more moderate losses.