Asia-Pacific markets traded lower Monday, after U.S. jobs report on Friday dampened investors' hopes for early interest rate cuts by the Federal Reserve.
Hong Kong's Hang Seng Index fell 1.6%, trading below 19,000 for the first time since last September, data from LSEG showed. Mainland China's benchmark CSI 300 dropped 0.75%, having closed at its lowest level since September 2024 on Friday.
China is slated to release its December trade data later in the day, while India is expected to report its inflation numbers.
Japan markets are closed for a holiday. South Korea's Kospi
lost 0.85% while the Kosdaq dipped 0.53%.
Australia's S&P/ASX 200 fell 1.17%.
Investors in Asia will continue to keep an eye on Chinese bond yields after the country's central bank suspended purchases of government bonds last Friday. China's 10-year bond yield plunged to a record low this month.
The country's onshore yuan hit a 16-month low against the dollar last week, while the offshore yuan has been on a multi-month slide since last September.
Looking to the rest of this week, the Bank of Korea is expected to meet this Thursday, and Australia is slated to post its unemployment rate for December on the same day. China will be posting its GDP for the fourth quarter of 2024 on Friday, alongside retail sales and industrial output data.(Cay) newsmaker23
Source: CNBC
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan prime rates for July, as well as the latest development...
Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate...
The S&P 500 rose 0.2% and the Nasdaq gained 0.4% on Friday (July 18), extending gains after both indexes closed at record highs the previous day. Meanwhile, the Dow Jones Industrial Average hovere...
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
EUR/USD edges lower after registering gains in the previous session, trading around 1.1620 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) holds steady, as traders adopt caution due to renewed trade tensions ahead of...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the war-ravaged nation. Sirens sounded for more than...
Gold prices rose to around $3,350 per ounce on Monday (July 21), marking a second consecutive session of gains as investor concerns about President Donald Trump's tariff policies grew. U.S. Commerce Secretary Howard Lutnick stated on Sunday that...
Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S....
The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed...
Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest...