Stocks decline due to concerns about rate hikes and the Chinese real estate sector.

On Thursday, most Asian equities slid lower as concerns about rising U.S. interest rates persisted. Chinese stocks also sank as worries about the nation's troubled real estate market resurfaced.

As Wall Street's indices had a protracted decline due to worries that the Federal Reserve will hike interest rates further this year, Asian markets suffered as a result. The Fed has hinted that it might raise rates for a longer period of time.

Hui Ka Yan, the founder and chairman of Evergrande, was reportedly under police surveillance this week, according to media sources. Soon after the company announced that one of its Chinese subsidiaries was under investigation, the reports surfaced.

Concerns about increased government surveillance of China's real estate sector, which is already suffering from a severe liquidity shortage and possible bankruptcy among its top players, increased in response to the news. About a quarter of China's economic growth comes from this industry.

Before the week-long Autumn festival break, Evergrande's suspension lowered interest in Chinese markets. Nevertheless, it is anticipated that the vacation would boost consumer spending enough to help the Chinese economy.

For more hints on China's economic activity, markets were also anticipating the country's purchasing managers' index data, which was scheduled to be released over the weekend.

Asian equities were also expected to end the month of September down, with the majority of the losses occurring over the previous week as a result of the Federal Reserve signalling higher interest rates. Given that higher rates indicate tighter monetary conditions and less alluring returns on risky assets, the shift devastated the world stock markets.

Due to its significant technology exposure, the Hang Seng was one of the worst performers for the month, losing 3.4%, and the ASX 200 was expected to lose more than 3% as well.

The monthly decline in China's two major indices ranged from 0.6% to 1.5%, and they were trading at yearly lows. The Nikkei 225 in Japan fell 1.9% in September.

Concerns over a Chinese economic downturn also roiled the markets, particularly as that country's real estate sector experienced further challenges.

(Sources: investing.com, reuters.com)