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August 28, 2025
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Asian stocks mixed after Wall St falls amid rate hike unease

BEIJING  — Asian stock markets were mixed Tuesday after Wall Street fell as investors watched for signs of whether global central banks will try to cool inflation by speeding up the withdrawal of economic stimulus.

Shanghai and Hong Kong declined. Tokyo and Sydney advanced.

In New York, the benchmark S&P 500 index sank Monday on losses for tech and communications companies.

Markets have been uneasy since Federal Reserve officials said in mid-December plans to withdraw record-low interest rates and other stimulus would be accelerated to cool inflation that is at multi-decade highs.

Investors expect the European Central Bank to adopt a more hawkish policy at its March meeting for the euro currency used by 17 European Union countries after its board said last week inflation risks were rising. The European Central Bank president, Christine Lagarde, tried Monday to dampen talk of rate hikes, saying any change “will be very gradual.”

The prospect of tighter monetary policy “has prompted asset markets to falter,” Tan Boon Heng of Mizuho Bank said in a report.

The Shanghai Composite Index lost 1% to 3,393.90 and the Hang Seng in Hong Kong sank 1.7% to 24,163.74.

The Nikkei 225 in Tokyo rose 0.3% to 27,340.40 after the government reported labor cash earnings declined 0.2% from a year earlier in December. Core household spending fell 1% from the previous month.

The Kospi in Seoul lost less than 0.1% to 2,742.79 while Sydney’s S&P-ASX 200 gained 1.3% to 7,199.50.

India’s Sensex opened down 0.6% at 57,260.54. New Zealand, Singapore and Bangkok rose while Jakarta declined.

On Wall Street, the S&P 500 sank 0.4% to 4,483.87. The benchmark index is now 6.5% below its Jan. 3 high.

The Dow Jones Industrial Average was nearly unchanged, adding 1.39 points to 35,091.13. The Nasdaq composite fell 0.6% to 14,015.67.

Facebook’s parent, Meta, fell 5.1% and Google’s parent company Alphabet fell 2.9%. Microsoft fell 1.6%.

Energy and financial companies made solid gains. Chevron rose 2% and insurer Allstate rose 2.2%.

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