Asian markets settled mostly lower on Monday amid growing inflation and global recession worries. Market sentiments weakened further by disappointing reports on US industrial production and leading economic indicators that added to signs of economic slowdown in the world's largest economy. Chinese shares ended marginally lower after the People's Bank of China stood pat on its benchmark lending rates for corporate and household loans in a widely expected move, and concerns that global central banks’ interest rate hikes making it tough for Beijing to stimulate a weak domestic economy by lowering rates. Japanese shares declined as investors struggled to find market moving cues due to federal holiday in the US.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,315.43 | -1.36 | -0.04 |
Hang Seng | 21,163.91 | 88.91 | 0.42 |
Jakarta Composite | 6,976.38 | 39.41 | 0.57 |
KLSE Composite | 1,441.24 | -15.50 | -1.06 |
Nikkei 225 | 25,771.22 | -191.78 | -0.74 |
Straits Times | 3,096.40 | -1.69 | -0.05 |
KOSPI Composite | 2,391.03 | -49.90 | -2.04 |
Taiwan Weighted | 15,367.58 | -273.68 | -1.75 |
