Asian Stocks Retreat

Bangkok, Shares were mostly lower in Asia on Thursday after the latest report of surging prices in the U.S. appeared to keep the Federal Reserve on track to raise interest rates in coming months, the Associated Press reported.
Tokyo’s Nikkei 225 index dropped 1% to 28,489.13, while the Shanghai Composite shed 1% to 3,560.59. In Seoul, the Kospi lost 0.4% to 2,962.09.
The Hang Seng in Hong Kong edged 0.1% lower, to 24,379.67 and the S&P/ASX 200 added 0.5% to 7,474.40. India’s Sensex edged 0.1% higher.
In other trading, U.S. benchmark crude oil lost 17 cents to $82.47 per barrel in electronic trading on the New York Mercantile Exchange. It gained $1.42 to $82.64 per barrel on Wednesday.
Brent crude, the basis for pricing international oils, lost 18 cents to $84.49 per barrel.
The U.S. dollar was unchanged at 114.64 Japanese yen. The euro fell to $1.1441 from $1.1444.


Source: Saudi Press Agency

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