Asian markets settled lower on Monday as concerns about ongoing war in Ukraine and the extended lockdown in Shanghai due to the worsening coronavirus outbreak weighed on market sentiments. Meanwhile, investors are looked ahead to the ECB policy meeting and the release of US inflation data for additional clues about the interest rate outlook. Chinese shares declined as the country grapples with the Covid-19 outbreak, while the fast pace of China's factory-gate and consumer prices also weighed on risk appetite. Data showed that China's producer price index increased 8.3% year-on-year, easing from 8.8% growth in February. While, the consumer price index inched up 1.5% year-on-year, the fastest pace in three months. Further, Japanese stocks fell after Japan Prime Minister Fumio Kishida announced a ban on Russia coal imports, a move that could accelerate the transition to renewable energy and the restarting of nuclear plants.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,167.13 | -84.72 | -2.61 |
Hang Seng | 21,208.30 | -663.71 | -3.03 |
Jakarta Composite | 7,203.79 | -7.05 | -0.10 |
KLSE Composite | 1,604.61 | -2.68 | -0.17 |
Nikkei 225 | 26,821.52 | -164.28 | -0.61 |
Straits Times | 3,363.56 | -19.72 | -0.58 |
KOSPI Composite | 2,693.10 | -7.29 | -0.27 |
Taiwan Weighted | 17,048.37 | -236.17 | -1.37 |
