Asian markets settled lower on Monday tracking losses in Wall Street amid renewed concerns about risks from interest rate hikes, while worries over spreading Covid cases in China also weighed on sentiments. Shanghai officials reported 51 Covid-related deaths on April 24, up from 39 the day before, the local government said on Monday. US Fed Chair Jerome Powell indicated that the Fed was preparing a half-point interest rate hike at its May meeting, with more to come. Japanese shares declined and Nikkei marked the biggest percentage decline since March 11 as investors awaited to see whether the Bank of Japan will adjust monetary settings at its upcoming policy meeting.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,928.51 | -158.41 | -5.13 |
Hang Seng | 19,869.34 | -769.18 | -3.73 |
Jakarta Composite | 7,215.98 | -9.63 | -0.13 |
KLSE Composite | 1,589.98 | -11.99 | -0.75 |
Nikkei 225 | 26,590.78 | -514.48 | -1.90 |
Straits Times | 3,339.59 | -21.52 | -0.64 |
KOSPI Composite | 2,657.13 | -47.58 | -1.76 |
Taiwan Weighted | 16,620.90 | -404.19 | -2.37 |
