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Sept. 15, 2021, 2:17 a.m. EDT

Asian stocks track Wall Street losses, while China growth slows

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By Associated Press

BEIJING (AP) — Asian stock markets followed Wall Street down on Wednesday after U.S. inflation was lower than expected amid unease about the impact of the spread of the coronavirus’s delta variant.

Shanghai, Tokyo, Hong Kong and Sydney all retreated, giving up the previous day’s gains.

Wall Street’s benchmark S&P 500 index fell despite data showing consumer prices rose at their slowest rate in seven months in August.

Investor optimism about the rollout of coronavirus vaccines and central bank support for global economies is competing with anxiety about the impact of the delta variant and anti-disease measures on consumers and businesses.

“Initial optimism from a lower-than-expected print on the U.S. CPI was quickly overridden by global growth concerns,” Yeap Jun Rong of IG said in a report.

The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.42% in Hong Kong slid 1.5% to 25,117.71. The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.34% lost 0.2% to 3,655.30 and the Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.34% in Tokyo sank 0.5% to 30,510.05. The Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.04% in Seoul gained 0.2% to 3,157.42 while Sydney’s S&P-ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.0013% retreated 0.2% to 7,421.50. New Zealand and Southeast Asian markets declined.

Investors also got a batch of weak China economic data , with retail sales, industrial output and fixed-asset investment all indicating cooling activity, owing to coronavirus outbreaks and tougher measures to control the virus.

Macau casino stocks tumbled in Hong Kong after the Macau government issued a document Tuesday that laid out recommendations for stricter regulations within the gaming hub. Among the deep losses, shares of Sands China Ltd. /zigman2/quotes/207609245/delayed HK:1928 0.00% /zigman2/quotes/201078396/composite SCHYY -0.57% and Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 +0.84% /zigman2/quotes/209288876/composite WYNMY +0.71% slumped around 28% each.

On Wall Street, the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.11% lost 0.6% to 4,443.05, giving up the previous day’s gain, after the government reported consumer prices in August rose 0.3% over the previous month.

The benchmark’s 11 sectors all ended in the red. Banks, energy stocks and industrial and communication companies were among the biggest drags on the index.

The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.21% dropped 0.8% to 34,577.57. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -0.82% fell 0.5% to 15,037.76.

Investors worry higher inflation might make the Federal Reserve and other central banks feel pressure to wind down easy credit and other stimulus that is helping to push up stock prices. The Fed has said it believes a spike in U.S. consumer inflation was temporary and interest rates will be kept low until a recovery is established.

In energy markets, benchmark U.S. crude /zigman2/quotes/209723049/delayed CL00 +1.79% rose 52 cents to $70.98 per barrel in electronic trading on the New York Mercantile Exchange. The contracted added 1 cent on Tuesday to $70.46. Brent crude , the price basis for international oils, advanced 56 cents to $74.16 per barrel in London. It gained 9 cents the previous day to $73.60 a barrel.

The dollar /zigman2/quotes/210598269/delayed DXY -0.17% was little-changed at 109.51 yen. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.1720% rose to $1.1808 from $1.1804.

MarketWatch contributed to this report.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,126.93
+109.40 +0.42%
Volume: 1.70M
Oct. 22, 2021 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,582.60
-12.18 -0.34%
Volume: 35.32B
Oct. 22, 2021 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
28,804.85
+96.27 +0.34%
Volume: 0.00
Oct. 22, 2021 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,006.16
-1.17 -0.04%
Volume: 695,272
Oct. 22, 2021 3:32p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,415.50
+0.10 +0.0013%
Volume: 638,420
Oct. 22, 2021 5:22p
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
$ 17.56
0.00 0.00%
Volume: 12.58M
Oct. 22, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$142.12 billion
Rev. per Employee
$305,069
loading...
/zigman2/quotes/201078396/composite
US : U.S.: OTC
$ 22.49
-0.13 -0.57%
Volume: 55,076
Oct. 22, 2021 3:50p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$18.28 billion
Rev. per Employee
$39,333
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
$ 7.20
+0.06 +0.84%
Volume: 8.12M
Oct. 22, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$37.17 billion
Rev. per Employee
$321,797
loading...
/zigman2/quotes/209288876/composite
US : U.S.: OTC
$ 9.18
+0.07 +0.71%
Volume: 23,208
Oct. 22, 2021 3:45p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.78 billion
Rev. per Employee
$41,490
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,544.90
-4.88 -0.11%
Volume: 1.82B
Oct. 22, 2021 5:04p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
35,677.02
+73.94 +0.21%
Volume: 349.08M
Oct. 22, 2021 5:04p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
15,090.20
-125.50 -0.82%
Volume: 5.11M
Oct. 22, 2021 5:16p
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 83.98
+1.48 +1.79%
Volume: 449,253
Oct. 22, 2021 4:59p
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
93.61
-0.16 -0.17%
Volume: 0.00
Oct. 22, 2021 4:59p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.1647
+0.0020 +0.1720%
Volume: 0.0000
Oct. 22, 2021 4:59p
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