Asian markets settled mostly down on Monday tracking Wall Street losses last Friday along with worries that further policy tightening by the Federal Reserve could result in a global recession next year. Chinese shares tumbled amid uncertainty over China's economic reopening, despite China's top leaders pledged to revive domestic consumption and support the real estate market. Moreover, Japanese shares plummeted due to selling pressure, with renewed speculation that the Bank of Japan could tighten its ultra-loose monetary policy amid rising inflationary pressures.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,107.12 | -60.74 | -1.92 |
Hang Seng | 19,352.81 | -97.86 | -0.50 |
Jakarta Composite | 6,779.70 | -32.49 | -0.48 |
KLSE Composite | 1,477.09 | -1.45 | -0.10 |
Nikkei 225 | 27,237.64 | -289.48 | -1.05 |
Straits Times | 3,256.61 | 15.80 | 0.49 |
KOSPI Composite | 2,352.17 | -7.85 | -0.33 |
Taiwan Weighted | 14,433.32 | -95.23 | -0.66 |