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  • Writer's pictureBy The Financial District

Asian Shares Down As More Rate Hikes Loom

Asian shares slipped Friday, July 7, 2023, after another decline on Wall Street, where hopes for an end to interest rate hikes were again dashed by strong jobs data.


Photo Insert: A jobs report Friday will likely have a much bigger impact on Wall Street than anything else this week.



US futures fell and oil prices were higher, Elaine Kurtenbach reported for the Associated Press (AP).

Tokyo’s Nikkei 225 shed 0.6% to 32,593.87 and the Hang Seng in Hong Kong dropped 1% to 18,341.87. The Shanghai Composite Index lost 0.4% to 3,194.19, while Australia’s S&P/ASX 200 sank 1.6% to 7,049.30.



India’s Sensex edged 0.1% higher and Bangkok’s SET index also was down 0.1%. A jobs report Friday will likely have a much bigger impact on Wall Street than anything else this week.

In other trading Friday, US benchmark crude oil added 26 cents to $72.06 per barrel in electronic trading on the New York Mercantile Exchange. It gained 1 cent to $71.80 on Thursday. The dollar slipped to 143.74 Japanese yen from 144.06 yen.


The euro rose to $1.0895 from $1.0890, Stan Choe also reported for AP.





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