Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, reflecting lingering concerns about a recession after recent hotter than expected U.S. inflation data raised expectations of further aggressive interest rate hikes by central banks around the world to control rising consumer prices. Asian markets closed mostly higher on Friday.
The latest data on U.S. inflation has raised expectations that the central bank will announce another 75-basis point hike in interest rates at its November meeting.
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