BEIJING — Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity.
The Nikkei 225
NIK,
-1.77%
in Tokyo fell 1.6%. The Hang Seng
HSI,
+0.79%
in Hong Kong gained 0.8% while the Shanghai Composite Index
SHCOMP,
+0.52%
was flat. The Kospi
180721,
-0.58%
in Seoul retreated 1% and Sydney’s S&P/ASX 200
XJO,
-1.84%
tumbled 2.2%. Benchmark indexes in Singapore
STI,
-0.58%,
Taiwan
Y9999,
-1.25%
and Indonesia
JAKIDX,
-1.94%
declined.
Wall Street’s benchmark S&P 500 index tumbled 3.3% after Britain’s central bank followed the Federal Reserve in raising its key interest rate to cool surging price rises. Central banks in Switzerland…
