BEIJING – Asian stock markets retreated Wednesday as investors looked ahead to U.S. data they worry will show inflation is picking up.
Shanghai, Tokyo, Hong Kong and Southeast Asian markets declined. Overnight, Wall Street's benchmark S&P 500 index lost 0.9% amid concern inflation might accelerate, hampering an economic recovery and dragging on share prices.
More U.S. inflation were due out Wednesday. Investor concern is increasing following a price rise for industrial materials including copper and crude oil. “Asian equities traded sideways following a lackluster session on Wall Street, where risk sentiment prevailed amid inflationary concerns,” Anderson Alves of ActivTrades said in a report.