Asian markets settled lower on Monday, weighed down by weakness in Wall Street last Friday after the report showed US non-farm payroll employment jumped by 263,000 jobs in September, beating expectations of an increase of 250,000 jobs. Better-than-expected US jobs data reinforced expectations for more aggressive interest rate hikes from the US Federal Reserve. In the meantime, investors will be eyeing at the US inflation data and minutes of the Fed’s September meeting scheduled this week. Moreover, lingering worries surrounding the Russia-Ukraine war also dented market sentiment. Chinese shares dropped ahead of a pivotal Communist Party congress. Chinese chipmakers leading the declines after Washington unveiled new export controls on Friday that restrict the sale of semiconductors made with US technology unless vendors obtain an export license. While, Japan, South Korea, Taiwan, and Malaysia markets were closed for holidays.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,974.15 | -50.24 | -1.66 |
Hang Seng | 17,216.66 | -523.39 | -2.95 |
Jakarta Composite | 6,994.40 | -32.38 | -0.46 |
KLSE Composite | -- | -- | -- |
Nikkei 225 | -- | -- | -- |
Straits Times | 3,107.47 | -38.34 | -1.22 |
KOSPI Composite | -- | -- | -- |
Taiwan Weighted | -- | -- | -- |
