Asian shares slid on Friday and were on course for their steepest one-day percentage decline in a week after stronger-than-expected U.S. consumer prices figures bolstered the case for the Federal Reserve to keep rates higher for longer.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2%, having scaled a three-week peak on Thursday.
It is, however, still set for a decent gain of 1.4% for the week, snapping a three-week losing streak.
Read the full story on Reuters here.