Asian stocks mostly fell on Wednesday, tracking losses on Wall Street, as the post-election rally now appears to be slowing, while anticipation of key US inflation data also spurred risk aversion.
Regional markets remained under pressure after new fiscal measures from China were largely disappointing, while uncertainty over what a Donald Trump presidency might entail for Sino-US relations and global trade also weighed heavily.
US stock index futures fell in Asian trading after a negative session on Wall Street, as stock indices fell from record high levels after a strong rise last week. Wall Street rose sharply in the wake of Trump’s victory in the 2024 presidential election.
Some hawkish comments from Fed officials also weighed on sentiment, with Minneapolis Fed President Neel Kashkari warning that any increases in inflation could prompt the Fed to hold interest rates steady in December.
Attention is now focused on consumer price index data due later on Wednesday, which is expected to show that US inflation remained steady in October.
