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Asian stocks follow Wall Street ahead of likely US rate hike

A currency trader walks near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate at a foreign exchange dealing room in Seoul, South Korea, Wednesday, July 27, 2022. Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. (AP Photo/Lee Jin-man) A currency trader walks near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate at a foreign exchange dealing room in Seoul, South Korea, Wednesday, July 27, 2022. Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. (AP Photo/Lee Jin-man) A currency trader talks near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, July 27, 2022. Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. (AP Photo/Lee Jin-man) A currency trader walks near the screens at a foreign exchange dealing room in Seoul, South Korea, Wednesday, July 27, 2022. Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. (AP Photo/Lee Jin-man)