Asian Shares Mostly Lower Amid Inflation, Middle East Concerns

(RTTNews) - Asian stocks ended mostly lower on Wednesday as Middle East tension flared again, and regional inflation data underscored persistent price pressures.

Traders also awaited cues from key U.S. CPI data that might show inflation at a three-year high in May.

The dollar was steady while gold prices tumbled below $4,200 an ounce after an American helicopter was downed over the Strait of Hormuz and the U.S. struck Iranian air defense, ground control stations, and surveillance radar sites in retaliation.

Iran attacked Kuwait, Behran and Jordan and vowed it would leave no attack or threat unanswered. Iranian Foreign Minister Abbas Araghchi said on the social platform X, "leave our region if you want to be safe."

Brent crude futures fell toward $91 a barrel in Asian trade on concerns about the outlook for global growth and energy demand.

China's Shanghai Composite index dropped 0.42 percent to 3,993.23 after the release of mixed inflation data.

Hong Kong's Hang Seng index fell 0.64 percent to 24,407.96, extending losses to a sixth consecutive session amid a renewed sell-off in selected technology shares.

Data showed earlier today that China's consumer price inflation unexpectedly stalled in May while factory prices rose at the fastest pace in almost four years amid higher energy and raw material costs.