Asian stocks fell on Wednesday as investors fretted about the potential for further Federal Reserve tightening and the impact it has on global growth.
The dollar gained on rising yields and gold was unchanged, while oil steadied after a recent string of losses.
Chinese shares fell amid signs that Beijing wants to play a more active role in the Ukraine conflict.
The benchmark Shanghai Composite Index dropped 0.5 percent to 3,291.15, while Hong Kong's Hang Seng Index slid 0.5 percent to settle at 20,423.84 as Financial Secretary Paul Chan presented budget proposals for the fiscal year starting in April 2023.
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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.