Tokyo Stock Exchange closes lower, more than 3%

11 avril 2022

Hong Kong drops more than 3%

The Tokyo Stock Exchange ended Monday down and that of Hong Kong fell more than 3% at the end of the session, investors remaining stressed by the prospect of more aggressive monetary tightening from the Fed in the United States. The flagship Nikkei index fell 0.61% to 26,821.52 points and the broader Topix index dropped 0.38% to 1,889.64 points. In Hong Kong, the Hang Seng index was even more depressed, falling more than 3.3% at 0700 GMT.

Consumer prices (CPI) in China accelerated sharply in March (+1.5% year on year), according to data published on Monday, a trend linked to the global increase in agricultural prices but also to the health crisis in China, where drastic confinements have been put back in place. The CPI index in the United States, expected on Tuesday, will be closely scrutinized as the world's largest economy faces record inflation for 40 years and the American Federal Reserve (Fed) multiplies the signs of more aggressive monetary tightening in the coming months to fix it. This has the effect of regularly frightening the equity markets, and especially their technology stocks, allergic to the prospect of higher interest rates.