Asian Markets Shake, Powell's Worrying Statement

<p>&nbsp;Today, the Asia Pacific market looked rather gloomy in taking small gains from the previous session. Largely due to the 'downbeat tone' set by the US market.</p><p><br /></p><p>The benchmark S&amp;P 500 index ended an eight-day winning streak following rising Treasury yields and Federal Reserve Chair Jerome Powell's indication of additional efforts to reduce inflation.</p><p><br /></p><p>Japan's Nikkei 225 fell 0.92% after rising nearly 1.5% in the previous session. The Topix was down 0.65% at the open.</p><p><br /></p><p>South Korea's Kospi opened lower at 0.92% and plunged after yesterday's rise. Meanwhile, Kosdaq lost 1.67% at the opening.</p><p><br /></p><p><br /></p><p>Hang Seng Index, Hong Kong opened 1.43% lower. China's CSI 300 Index was down 0.55% at the open.</p><p><br /></p><p>Australia's S&amp;P/ASX 200 was trading lower by 0.55%.</p><p><br /></p><p>In addition, Wall Street's main index also closed lower. The S&amp;P 500 fell 0.81% ending an eight-day winning streak with sharply rising yields and leaving many investors confused.</p><p><br /></p><p>The Nasdaq Composite and The Dow Jones Industrial Average both experienced a decrease of 0.94% and 0.65%.</p>