Asian markets moved lower on Wednesday amidst Anxiety ahead of the Fed's decision. Concerns over banking sector stress spilled over from Wall Street, adding to the negative sentiment.
Oil and gas stocks too plunged amidst a drop in crude oil prices. Gains in mining stocks helped limit losses. Markets in China and Japan were closed for holidays.
The Hang Seng Index of the Hong Kong Stock Exchange dropped 234.65 points or 1.2 percent from the previous close to finish trading at 19,699.16. The day's trading range was between a high of 19,721.96 and a low of 19,538.72.
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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.