Asian markets settled mostly lower on Monday tracking Wall Street's overnight selloff followed by concerns over rising inflationary risks with escalating Russia-Ukraine tensions. Russia could invade Ukraine at any time and might create a surprise pretext for an attack, the United States said on Sunday, as it reaffirmed a pledge to defend every inch of NATO territory. Surging oil prices and the prospect of rapidly rising interest rates by the US Federal Reserve also weighed on investors' sentiments. Chinese shares declined due to heavy liquidation in property and financial firms after the central bank PBoC said it would not use real estate as a short-term method to stimulate the economy. Japanese shares tumbled following negative cues from Wall Street.
Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,428.88 | -34.07 | -0.98 |
Hang Seng | 24,556.57 | -350.09 | -1.41 |
Jakarta Composite | 6,734.49 | -81.12 | -1.19 |
KLSE Composite | 1,583.84 | 4.95 | 0.31 |
Nikkei 225 | 27,079.59 | -616.49 | -2.23 |
Straits Times | 3,421.20 | -7.75 | -0.23 |
KOSPI Composite | 2,704.48 | -43.23 | -1.57 |
Taiwan Weighted | 17,997.67 | -313.27 | -1.71 |
