Asian stocks retreated on Friday as the rout in Chinese technology giants deepened. A cautious undertone prevailed amid fears of slowing global growth and a potential easing in U.S. stimulus.
Chinese shares ended lower as the People's Bank of China left its benchmark lending rate for corporate and household loans unchanged for a 16th straight month, as widely expected, amid weak economic data. The benchmark Shanghai Composite Index fell 38.22 points, or 1.1 percent, to 3,427.33.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.