Asian markets down on inflation, energy crunch worries

HONG KONG: Asian markets retreated Tuesday as investors grew increasingly concerned about a growing energy crisis, spiking inflation, signs of a slowdown in the global economy and an end to central bank financial support.

China’s ongoing crackdown on the private sector and the debt woes of the country’s property giant Evergrande were also acting as a dampener on sentiment.

World markets have come under pressure in recent weeks as the reopening of economies and supply chain snarls ramp up inflation, with a rally in commodity prices a major factor.

All eyes are on the release this week of inflation data in the United States and China, with expectations for multi-high readings that will add pressure to central banks to tighten monetary policy.