Asian shares take a beating on hawkish Fed comments


BENGALURU: Asian shares were under pressure on Thursday as indications by U.S. policymakers of aggressive rate hikes and balance sheet reductions sparked a selloff in the region, with equities in the Philippines leading losses.

Stocks in Manila fell 2.6% to mark their worst session in more than three weeks.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Prolintas Infra BT 2Q net profit rises 13%, declares 3.18 sen distribution
KLK hit by RM1.6bil impairment, swings into 3Q26 loss
Guan Chong 2Q net profit surges fivefold to RM253mil
Sunzen shareholders approve changes to Ecolite, Yanming acquisition terms
Ringgit ends lower against greenback amid economic D-Day uncertainty
Zetrix AI eyes organic growth through blockchain, AI initiatives
Sorento Capital to transfer to Main Market on Aug 28
Geohan wins RM37mil high-rise job from Chin Hin Property
Sime Darby Property 2Q net profit more than doubles, raises dividend payout to 40%-60%
Lysaght unit secures RM19mil high-mast supply contract

Others Also Read