Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 24, 2022. Worries about inflation continue to weigh on investors' minds, including in Asia where shares were mixed Wednesday as a wait-and-see mood set in following another more modest day of sell-offs on Wall Street.–
Benchmarks finished lower in Japan and China, while they were higher in Australia and South Korea. European shares fell in early trading. In the U.S., a report on new homes also set off pessimism about a possibly imminent recession. A slowdown in the American economy would be devastating for export-reliant Asia.The next big event circled on the calendar is a speech Friday by Jerome Powell, the chair of the U.S. Federal Reserve. He’ll be speaking at an annual symposium held by the Fed in Jackson Hole, Wyoming, which has been the site of major market-moving speeches in the past.
Japan's benchmark Nikkei 225 slid 0.5% to finish at 28,313.47. Australia's S&P/ASX 200 added 0.5% to 6,998.10. South Korea's Kospi rose 0.5% to 2,447.45. Hong Kong's Hang Seng dipped 1.2% to 19,268.74, while the Shanghai Composite shed 1.9% to 3,215.20.to Wall Street following what had been a strong summer as worries rise about how aggressively the Federal Reserve will raise interest rates to knock down high inflation.
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