Asian markets settled mostly down on Monday on caution ahead of key inflation data from several economies during the week, while uncertainty over the timing of interest-rate cuts in the United States kept market sentiments cautious. Federal Reserve Bank of New York President John Williams said on Friday that the US economy is headed in the right direction and rate cuts will likely happen later this year. Seoul shares fell as South Korea’s much-hyped plan to push firms to improve management and corporate governance disappointed investors with a lack of enforcement and concrete details. Chinese shares declined sharply after 11 Chinese firms lost their credit ratings Friday at Moody's Investors Service. Meanwhile, investors were awaiting Chinese manufacturing data due this week.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,977.02 | -27.86 | -0.94 |
Hang Seng | 16,634.74 | -91.12 | -0.55 |
Jakarta Composite | 7,283.82 | -11.28 | -0.15 |
KLSE Composite | 1,547.60 | -1.51 | -0.10 |
Nikkei 225 | 39,233.71 | 135.03 | 0.34 |
Straits Times | 3,171.12 | -13.79 | -0.43 |
KOSPI Composite | 2,647.08 | -20.62 | -0.78 |
Taiwan Weighted | 18,948.05 | 58.86 | 0.31 |
