Fri, 07 Oct 2022

Asian stocks sold off, Nikkei 225 tumbles 318 points

Lola Evans
21 Sep 2022, 16:33 GMT+10

SYDNEY, NSW, Australia - Stocks in Asia wilted on Wednesday following further falls on Wall Street overnight.

At the conclusion of the monthly FOMC meeting later Wednesday, the U.S. Federal Reserve is expected to hike official interest rates by 75 basis points.

In Japan, Wednesday, the Nikkei 225 tumbled 318.19 points or 1.15 percent to 27,370.

The Australian All Ordinaries declined 104.90 points or 1.49 percent to 6,925.10.

In New Zealand, the S&P/NZX 50 dropped 71.48 points or 0.62 percent to 11,498.95.

South Korea's Kospi Composite eased 17.60 points or 0.74 percent to 2,350.25.

In Hong Kong, the Hang Seng shed 336.80 points or 1.79 percent to 18,444.62.

China's Shanghai Composite lost 5.23 points or 0.17 percent to 3,117.18.

On foreign exchange markets, the euro fell to 0.9932 around the Sydney close Wednesday. The British pound fell to 1.1357. The Japanese yen was a tad lower at 143.77. The Swiss franc was little changed at 0.9649.

The Canadian dollar was unwanted at 1.3377. The Australian dollar softened to 0.6668. The New Zealand dollar dived to 0.5882.

Overnight on Wall Street, the Dow Jones industrials plummeted 313.45 points or 1.01 percent to 30,706.23.

The Nasdaq Composite declined 109.97 points or 0.95 percent to 11,425.05.

The Standard and Poor's 500 fell 43.94 points or 1.13 percent to 3,855.93.

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