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Markets Score 48 Bearish

Asian Equities Slide as Inflation Fears Fuel Rate Hike Expectations

Apr 28, 2026 03:03 UTC
S&P/ASX 200, Nikkei 225, BHP, RIO, WBC, 9984.T, 9983.T
Short term

Major indices in Japan and Australia declined on Monday as investors reacted to strong US labor data and signals of aggressive monetary tightening. Persistent global inflation continues to weigh on risk assets across the Asia-Pacific region.

  • Nikkei 225 closed the morning session down 2.20% at 26,410.30
  • S&P/ASX 200 declined 1.29% to 7,112.90
  • US labor market strength is driving expectations for sharper Fed rate hikes
  • Westpac shares rose over 2% on earnings beat and dividend hike
  • JFE Holdings saw a significant plunge of over 9%

Asian stock markets traded predominantly lower on Monday, mirroring a negative trend from Wall Street. The sell-off is driven by mounting concerns over stubborn inflation and the likelihood that central banks will accelerate interest rate hikes to stabilize prices. The downturn follows a robust US Labor Department report, which has led economists to anticipate a more aggressive trajectory for Federal Reserve rate increases. This sentiment has spilled over into regional markets, where traders are pricing in tighter monetary conditions globally. In Australia, the S&P/ASX 200 fell 1.29% to 7,112.90, while the All Ordinaries Index dropped 1.54%. Mining giants including BHP Group and Rio Tinto saw declines, though energy stocks like Woodside Petroleum and Santos bucked the trend. Westpac provided a bright spot, gaining over 2% following strong half-year earnings and a dividend increase. Japan's Nikkei 225 experienced a sharper decline, falling 2.20% to close the morning session at 26,410.30. Market heavyweights SoftBank Group and Fast Retailing led the losses, while JFE Holdings plunged more than 9%. The broader market weakness reflected a cautious approach toward exporters and tech firms amid the global tightening cycle.

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