Tech Sector Rout and China Woes Hit Hang Seng Index, Nikkei Index, and ASX 200

Welcome to Extreme Investor Network, where we provide you with cutting-edge insights and analysis on the Stock Market, trading, and all things Wall Street. Today, we dive into the recent movements in the ASX 200 and what it means for investors.

The ASX 200 experienced a decline of 1.13% on Thursday morning, driven by rising consumer inflation expectations which have increased investor bets on an RBA rate hike. June saw consumer inflation expectations rise from 4.1% to 4.4%, surpassing economists’ expectations of 4.3%. This comes on the heels of the Australian Monthly CPI Indicator, which signaled a 4.0% inflation rate in May.

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In response to the inflation data, Bloomberg TV APAC Chief Markets Editor David Ingles noted the significance of the consumer price trends, pointing out that there is now a near 50-50 probability of an RBA rate hike in September.

The banking sector was hit particularly hard, with National Australia Bank Ltd. (NAB) sliding by 1.90% and Commonwealth Bank of Australia (CBA) falling by 1.47%. Additionally, gold and oil-related stocks also saw losses following pullbacks in the gold and oil markets.

Looking ahead, it is crucial for market participants to keep a close eye on upcoming economic events and corporate earnings to anticipate the next moves in the global markets. For a more detailed overview of upcoming events, be sure to check out our economic calendar on Extreme Investor Network.

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