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Hong Kong shares drop 2% as investors look ahead to Fed meeting, U.S. inflation this week | AturartA

CNBC – UPDATED MON, DEC 12 20223:13 AM EST

Shares in the Asia-Pacific declined Monday as investors looked ahead to a Fed meeting and U.S. inflation data this week.

Hong Kong’s Hang Seng index fell 2.2% to end off at 19,463.63, leading losses in the region. The Hang Seng Tech index shed 4.05% to close at 4,192.67.

In Australia, the S&P/ASX 200 closed down 0.45% to stand at 7,180.8. Japan’s Nikkei 225 fell 0.21% to end at 27,842.33 while the Topix slid 0.22% to 1,957.33.

South Korean benchmark Kospi closed down 0.67% at 2,373.02, and the Kosdaq dipped 0.59% to 715.22. The MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1.13%.

Mainland China’s Shanghai Composite closed at 3,179.04 after losing 0.63%, and the Shenzhen Component was down 0.673%

On Monday, India is scheduled to release inflation and industrial output data.

Later this week stateside, the Federal Reserve is set to begin its two-day meeting on Tuesday. Economists widely expect the U.S. central bank to raise rates by half a percentage point Wednesday.

The latest reading for the U.S. consumer price index is also slated for Tuesday. Analysts polled by Reuters expect the index rose 0.3% in November.

Source: https://www.cnbc.com/2022/12/12/asia-pacific-markets-cpi-data-fed.html