Asian markets settled mostly lower on Monday tracking negative closing of Wall Street on Friday trade following dismal earnings updates from Twitter and Snap. Investors are also awaiting this week’s policy decision from the US Federal Reserve, as well as earnings from Google's parent company Alphabet and technology titan Apple for additional clues on the US economic outlook. Moreover, recession fears following weak business activity data from Europe and the United States also weighed on Asian market sentiments. Chinese shares declined with anxiety about China's property market as many homebuyers stopped mortgage payments. The world's most indebted developer China Evergrande Group is expected to announce a debt restructuring plan this week, that would indicate how Beijing plans to overcome a deepening property sector crisis.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,250.39 | -19.58 | -0.60 |
Hang Seng | 20,562.94 | -46.20 | -0.22 |
Jakarta Composite | 6,858.41 | -28.55 | -0.41 |
KLSE Composite | 1,469.22 | 3.42 | 0.23 |
Nikkei 225 | 27,699.25 | -215.41 | -0.77 |
Straits Times | 3,180.47 | -0.87 | -0.03 |
KOSPI Composite | 2,403.69 | 10.55 | 0.44 |
Taiwan Weighted | 14,936.33 | -13.03 | -0.09 |
