Asian markets ended mostly lower on Monday tracking weakness in Wall Street as investors braced for more interest-rate tightening by the US Federal Reserve, while a profit warning from global delivery bellwether FedEx also heightened fears of a recession. The Federal Reserve will make its interest-rate decision Wednesday, while the Bank of England, the Swiss National Bank and the Bank of Japan will announce their monetary policy decisions on Thursday. Chinese shares declined, even as the People's Bank of China injected liquidity and cut its 14-day reverse repo rates to revive credit demand and prop up the sputtering economy. Meanwhile, Joe Biden said that US forces would defend Taiwan in the event of a Chinese invasion. The Japanese market was shut for old age day holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,115.60 | -10.80 | -0.35 |
Hang Seng | 18,565.97 | -195.72 | -1.04 |
Jakarta Composite | 7,195.49 | 26.62 | 0.37 |
KLSE Composite | 1,451.52 | -15.79 | -1.08 |
Nikkei 225 | -- | -- | -- |
Straits Times | 3,256.31 | -11.98 | -0.37 |
KOSPI Composite | 2,355.66 | -27.12 | -1.14 |
Taiwan Weighted | 14,425.68 | -136.08 | -0.93 |
