Asian markets settled down on Monday on concerns over a possible delay in US interest-rate cuts. Minneapolis Federal Reserve President Neel Kashkari on Sunday said it's a reasonable prediction that the US Federal Reserve will cut interest rates once this year, waiting until December to do it. Moreover, political turmoil in Europe and China’s mixed economic data also added pressure on market sentiments. China's retail sales topped forecasts by rising 3.7% in May, but industrial output, home sales and fixed-asset investment all underwhelmed. Japanese shares declined as the BoJ's delay in normalization of policy fuelled concerns over the economic outlook.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,015.89 | -16.74 | -0.56 |
Hang Seng | 17,936.12 | -5.66 | -0.03 |
Jakarta Composite | -- | -- | -- |
KLSE Composite | -- | -- | -- |
Nikkei 225 | 38,102.44 | -712.12 | -1.87 |
Straits Times | -- | -- | -- |
KOSPI Composite | 2,744.10 | -14.32 | -0.52 |
Taiwan Weighted | 22,496.53 | -8.19 | -0.04 |
