Asian markets ended lower on Monday as caution set in ahead of US-China trade talks set to resume this week and the US Federal Reserve's monetary policy announcement due on Wednesday. Upbeat GDP and earnings numbers from the US helped to limit the downside across the region. Chinese shares ended down as data showed profits earned by China's industrial firms contracted in June after a brief gain the previous month, adding to fears of a slowdown. Industrial profits fell 3.1 percent in June from a year earlier to 601.9 billion yuan ($87.5 billion), according to data released by the National Bureau of Statistics (NBS) on Saturday. Besides, Japanese shares ended lower as investors adopted a cautious approach ahead of the Bank of Japan's policy board meeting and the US FOMC meeting. Moreover, Seoul shares fell for a fourth day to hit a two-month low amid growing uncertainties, such as a trade row with Japan and the US-China trade war. Japan will decide on August 2 to remove South Korea from its list of countries that enjoy preferential treatment in trade, potentially affecting some 1,000 industrial items.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,941.01 | -3.53 | -0.12 |
Hang Seng | 28,106.41 | -291.33 | -1.03 |
Jakarta Composite | 6,299.04 | -26.20 | -0.41 |
KLSE Composite | 1,642.69 | -5.27 | -0.32 |
Nikkei 225 | 21,616.80 | -41.35 | -0.19 |
Straits Times | 3,346.39 | -17.37 | -0.52 |
KOSPI Composite | 2,029.48 | -36.78 | -1.78 |
Taiwan Weighted | 10,885.73 | -6.25 | -0.06 |
