Asian markets settled mostly lower on Monday following a sharp, tech-led sell-off on Wall Street last Friday, which was fuelled by mounting investor anxiety over the massive funding needs and valuation sustainability of the artificial intelligence boom. Indonesian market extended severe market rout, with the benchmark Jakarta Composite Index dropping below the critical 5,000 psychological level to hit a fresh six-year low. Meanwhile, Federal Reserve Chairman Kevin Warsh’s strong optimism regarding US and global economic resilience during the IMF and World Bank annual meetings in Bangkok, better-than-expected China's Q3 GDP growth, and a drop in crude oil prices boosted some investor confidence. China’s economic growth accelerated to 4.5% in the third quarter, picking up from a three-year low of 4.3% in the prior quarter. Meanwhile, the Hong Kong Stock Exchange remained closed today in observance of the Double Ninth Festival (Chung Yeung Festival).
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,730.92 | 14.64 | 0.39 |
Hang Seng | -- | -- | -- |
Jakarta Composite | 4,996.61 | -188.50 | -3.64 |
KLSE Composite | 1,595.75 | -12.01 | -0.75 |
Nikkei 225 | 64,916.70 | -407.59 | -0.62 |
Straits Times | 5,412.00 | -3.53 | -0.07 |
KOSPI Composite | 5,768.01 | 99.96 | 1.76 |
Taiwan Weighted | 46,822.08 | -289.18 | -0.61 |
