(Bloomberg) — Stocks in Asia dropped, with weakness in China adding to the risk-off mood after Federal Reserve meeting minutes indicated interest rates will remain elevated for longer.
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A gauge for regional shares slid for a third straight session as benchmarks declined from Australia to South Korea, with Chinese stocks also in a three-day losing streak. Japan’s Topix Index turned higher, reversing early losses on the first trading day of the new year after a holiday break.
US stock futures gained slightly in Asia after the S&P 500 ended Wednesday 0.8% lower, extending a run of daily declines that began on the last trading day of 2023. The Nasdaq 100 fell 1.1%, a fourth daily drop, and the longest losing streak in two months.
Attention will now turn to upcoming US jobs data on Friday after minutes from the Fed’s December meeting suggested rates could remain at restrictive levels “for some time.” Swaps…
