Asian markets ended lower on Monday due to heavy selling pressure as growing worries about growth and Brexit-related uncertainty weighed on investors' appetite for risk. With an inverted yield curve in the US stoking fears of a recession, investors ignored news that the Muller report did not find sufficient evidence against President Donald Trump. Chinese shares ended lower as investors looked forward to another round of US-China trade negotiations set to begin in Beijing this week. Further, Japanese shares ended down as an inverted yield curve suggested that a recession could be looming. A yield curve recession model by National Australia Bank is pointing to a 30-35 percent probability of a US recession occurring over the next 10-18 months.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,043.03 | -61.12 | -1.97 |
Hang Seng | 28,523.35 | -590.01 | -2.03 |
Jakarta Composite | 6,411.25 | -114.02 | -1.75 |
KLSE Composite | 1,649.15 | -17.51 | -1.05 |
Nikkei 225 | 20,977.11 | -650.23 | -3.01 |
Straits Times | 3,182.92 | -29.18 | -0.91 |
KOSPI Composite | 2,144.86 | -42.09 | -1.92 |
Taiwan Weighted | 10,479.48 | -159.59 | -1.50 |
