Asian stocks declined on Thursday amid mounting China worries and on hawkish Fed minutes.
China's offshore yuan hit a fresh nine-month low against the dollar on renewed concerns over a Chinese economic slowdown and fears of a debt meltdown in the country's property sector.
Fears of further rate hikes weighed on risk appetite after the minutes of the Fed's July meeting showed a number of officials still saw the need for more interest rates to curb stubborn inflation.
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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.