Asian stocks slide to lowest this year on rate worries

SINGAPORE: Asian shares slid on Tuesday to their lowest this year as worries over higher U.S interest rates for longer period gripped markets, while the yen wobbled near a one-year low, keeping traders on alert for a possible intervention.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.6% to the lowest since Nov. 28, 2022. Japan's Nikkei fell 1.8%, while Hong Kong's Hang Seng Index sank 3%. Chinese markets were closed for the week because of the Golden Week holiday.