BANGKOK — Shares slipped in Asia on Friday after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected.
Oil prices and U.S. futures also declined after the S&P 500 fell 1.4% Thursday following news that inflation at the wholesale level slowed by less than economists had forecast. It echoed a report on prices at the consumer level from earlier this week that suggested inflation isn’t cooling as quickly and as smoothly as hoped.
Tokyo’s Nikkei 225 fell 0.7% to 27,513.13 while the Hang Seng in Hong Kong lost 0.7% to 20,836.08. The Kospi in South Korea sank 1% to 2,450.20.
The Shanghai Composite index gave up 0.2% to 3,243.24 and Australia’s S&P/ASX 200 shed 0.9% to 7,346.80. Taiwan’s benchmark lost 0.5%.
Bangkok’s SET index fell 0.2% after the government reported the economy…
