Asian stocks hit a two-year low on Wednesday and the yen continued to decline, as solid U.S. services data released overnight reinforced investor expectations for a more aggressive pace of FOMC rate hikes.
Chinese trade data missed expectations, adding to headwinds for the world's second-largest economy.
China's Shanghai Composite Index fluctuated before ending marginally higher for the day as official data showed export growth slowed sharply in August amid softening global demand.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.