Asian stocks mostly close lower after 2nd day of losses on Wall Street

Asian stock markets closed mostly lower on Friday (10), after Wall Street suffered losses for the second consecutive day and in the wake of Chinese inflation data.

In mainland China, the Shanghai Composite Index fell 0.30% to 3,260.67 points, and the less comprehensive Shenzhen Composite fell 0.44% to 2,164.72 points.

The Chinese annual consumer inflation rate (CPI) accelerated to 2.1% in January, from 1.8% in December, but was slightly below expectations.

Elsewhere in Asia, the Hang Seng was down 2.01% in Hong Kong to 21,190.42 points, knocked down by tech stocks such as Baidu (-7.4%) and Alibaba (-3.3%), while the South Korean Kospi yielded 0.48% in Seoul, at 2,469.73 points, and the Taiex recorded marginal low of 0.08% in Taiwan, at 15,586.65 points.

Exception, the Japanese Nikkei rose 0.31% in Tokyo, to 27,670.98 points.

After the closure of business in the Japanese capital, reports surfaced that Kazuo Ueda will be named as the next governor of the Bank of Japan (BoJ), which boosted the yen against the dollar.

Ueda is an economist and former head of the BoJ.

The predominance of bad mood in the Asian region came after New York stock markets fell for the second straight session on Thursday, amid corporate earnings and concerns about the trajectory of interest rates in the US.

In Oceania, the Australian stock exchange was in the red, also influenced by Wall Street.

The S&P/ASX 200 was down 0.76% in Sydney at 7,433.70 points.

Source: CNN Brasil

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