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,In early Asian trade today, Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Taipei, Jakarta and Wellington stock exchanges are all well down. – EPA pic, June 29, 2022.

FEARS of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian markets tumbling yesterday, tracking a sharp drop on Wall Street.

The hefty selling came after more than a week of gains across the world caused by hopes that any signs of contraction could give central banks room to ease up on their pace of monetary tightening.


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