Asian markets settled mostly lower on Monday as robust US jobs data coupled with relatively hawkish comments from US Federal Reserve Chair Jerome Powell dimmed the possibility of an interest rate cut this year. Meanwhile, Crude oil prices climbed amid indications that the United States plans further action after striking militants in response to killing of 3 American troops. Chinese markets declined even as the central bank PBoC’s stimulus measures went into effect. A private survey showed activity in China's services sector activity declined slightly at the start of 2024. Hong Kong markets finished down as former US President Donald Trump said he would impose tariffs on China again if elected to power in the scheduled November presidential polls. However, Japanese markets rose by tracking Wall Street shares last Friday on the back of encouraging earnings reports from Amazon and Meta Platforms as well as robust January employment data. Meanwhile, Japan’s December service activity expanded at a faster pace than the previous month.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 2,702.18 | -27.97 | -1.04 |
| Hang Seng | 15,510.01 | -23.55 | -0.15 |
| Jakarta Composite | 7,198.62 | -40.17 | -0.56 |
| KLSE Composite | 1,511.34 | -5.24 | -0.35 |
| Nikkei 225 | 36,354.16 | 196.14 | 0.54 |
| Straits Times | 3,134.29 | -45.48 | -1.45 |
| KOSPI Composite | 2,591.31 | -24.00 | -0.93 |
| Taiwan Weighted | 18,096.07 | 36.14 | 0.20 |
