Asian markets settled down on Monday as fears about a US economic slowdown and a possible US recession sent shock waves through global markets, while Japan’s Nikkei logged the worst day for the index since the Black Monday of 1987. US data on Friday showed a smaller-than-expected gain of 114,000 US nonfarm payrolls last month, as the unemployment rate ticked up to 4.3%, the highest since October 2021. Market sentiments weakened further by rising geopolitical tensions in the Middle East, with reports stated that Benjamin Netanyahu-led government could sanction a pre-emptive strike on Iran to prevent an attack on Israeli soil. Chinese shares declined, despite data showing growth in the country's services activity accelerated in July. The Caixin/S&P Global services purchasing managers' index grew to 52.1 in July from 51.2 in June, pointing to expansion for the 19th straight month and beating expectations of 51.4.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 2,860.70 | -44.64 | -1.56 |
| Hang Seng | 16,698.36 | -247.15 | -1.48 |
| Jakarta Composite | 7,059.65 | -248.47 | -3.52 |
| KLSE Composite | 1,536.48 | -74.57 | -4.63 |
| Nikkei 225 | 31,458.42 | -4,451.28 | -14.15 |
| Straits Times | 3,243.67 | -137.78 | -4.25 |
| KOSPI Composite | 2,441.55 | -234.64 | -9.61 |
| Taiwan Weighted | 19,830.88 | -1,807.21 | -9.11 |
