(Bloomberg) — Several of Asia’s key indexes have hit bleak milestones on growing investor concerns about the economic fallout of the war in Ukraine and sustained regulatory pressure on China’s technology sector.
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The benchmark MSCI Asia Pacific Index tumbled as much as 2.8% on Monday, taking its losses from a record reached in February last year to more than 20% — which puts it on course for a technical bear market. Technology and consumer discretionary sectors were the worst performers.
Monday’s broad rout was sparked by fears of a global inflation shock as oil prices extended their relentless surge on the prospect of a ban on Russian crude supplies. Hong Kong’s Hang Seng Index slid to its lowest level in almost six years, while a gauge of Chinese shares listed in the city sank to its weakest level since March 2009. Japan’s Nikkei 225 lost more than…
