Asia markets fall after US data sparks rate hike fears

Asian Stock Markets Tumble

The decline in Asian stock markets: The Shanghai Composite Index fell by 1.1% to 3,154.16, while the Nikkei 225 in Tokyo shed 1% to 32,160.30. Hong Kong’s Hang Seng index sank to 18,629.82. The South Korean Kospi retreated by 1% to 2,565.37, and Sydney’s S&P-ASX 200 was 0.8% lower at 7,283.60. Markets in New Zealand and Southeast Asia also experienced declines, painting a bleak picture across the region.