Asia stocks slide on US rate worries, dollar ascendant
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TOKYO : Asian stocks sank on Thursday, extending global equity declines after new signs of sustained inflationary pressures in the United States boosted the case for elevated interest rates for longer.
The U.S. dollar hung close to the highest since mid-March against major peers, and touched a fresh 10-month top to the yen. Long-term Treasury yields hovered near two-week highs near 4.3 per cent.
Brent crude stayed above $90 amid tightening supply, adding to inflation worries.
MSCI's broadest index of Asia-Pacific shares slid 0.45 per cent, following declines on Wall Street and in Europe.
Hong Kong's Hang Seng dropped nearly 1 per cent. Mainland Chinese blue chips sank 0.8 per cent. Australia's benchmark lost 1.1 per cent.
Japan's Nikkei sagged a milder 0.2 per cent, although that put it at risk of snapping an eight-session win streak.
