Asian stocks tumbled on Wednesday as regional currencies weakened following comments overnight by Federal Reserve chair Jerome Powell that raise the possibility the US central bank would resume large-scale interest rate hikes to tame sticky inflation.
MSCI's broadest index of Asia-Pacific shares outside Japan was 1.69% lower at 514.71. Hong Kong's Hang Seng Index fell 2.35%, set for its worst day since late January, as shares in China slipped 0.42%. Australia's S&P/ASX 200 Index fell nearly 0.77%, while the Stock Exchange of Thailand (SET) Index closed 0.37% lower at 1,612.60.
