Asian markets settle mostly down on Monday

09 Sep 2024 Evaluate

Asian markets settled mostly down on Monday tracking Friday's weakness on Wall Street with caution ahead of August US inflation data due this week and the US central bank's policy meeting on September 17 and 18, while weaker than expected US job growth fuelled worries that the central bank might have waited too long to cut interest rates. Moreover, lingering worries over US and Chinese growth has also dampened sentiments. Chinese and Hong Kong shares led regional losses as weaker than forecasted inflation figures deepened economic worries. Japanese markets declined in cautious trade as technology shares followed their U.S. peers lower. Revised data from the Cabinet Office showed that, Japan's GDP expanded by an annualised 2.9% in the second quarter against preliminary estimate of 3.1%.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,736.49	-29.32	-1.07
Hang Seng	17,196.96	-247.34	-1.44
Jakarta Composite	7,702.74	-19.11	-0.25
KLSE Composite	1,651.49	-1.63	-0.10
Nikkei 225	36,215.75	-175.72	-0.49
Straits Times	3,496.53	42.06	1.20
KOSPI Composite	2,535.93	-8.35	-0.33
Taiwan Weighted	21,144.44	-290.75	-1.38

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