Equities in Asia fell and oil edged down as global investors braced for the impact of tighter monetary policy from central banks, while Goldman Sachs downgraded its forecast for US economic growth over the fallout from Russia’s invasion of Ukraine.
In Asian equities, Hong Kong’s Hang Seng index led the region lower with a drop of about 3 per cent, while China’s CSI 300 index of Shanghai- and Shenzhen-listed stocks fell more than 2 per cent and Japan’s Topix shed 1.9 per cent.
Falls in Hong Kong were amplified by an announcement from the US Securities and Exchange Commission naming five Chinese companies listed in New York that will be delisted if they do not hand over audit documents, triggering a sell-off in US-traded Chinese stocks.