Central Bank Actions Weigh on Asian Share Market Sentiment

Asian shares fell, led by China, as central banks reinforced the message of higher interest rates. Investors are awaiting inflation data from the US and Europe. The yen remained near the 150 per dollar level amid intervention fears after the Bank of Japan maintained its dovish monetary policy. China's economic growth forecast for 2023 was lowered by S&P to 4.8% from 5.2%. Bond investors are still adjusting to the US Federal Reserve's more hawkish rate projections. US data, including inflation results, will be closely watched. The US dollar held near a six-month high, while oil prices remained near 10-month highs.