Asian stocks ended broadly lower on Tuesday amid continuing worries about the Omicron coronavirus and an earlier-than-expected U.S. interest rate hike.
Investors looked for clues to the timing of expected policy tightening when Fed Chair Powell makes his appearance before the Senate Banking Committee later in the day. Upcoming U.S. December consumer inflation data was also on investors' radar.
Chinese shares retreated as investors grappled with an uptick in Covidd-19 cases in the country. The benchmark Shanghai Composite Index dropped 26.08 points, or 0.7 percent, to 3,567.44, while Hong Kong's Hang Seng Index finished marginally lower at 23,739.06.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.