Shares in the Asia-Pacific fell sharply on Monday as negative sentiment continues to weigh in on markets.
The Nikkei 225 in Japan dropped 2.19% in early trade, and the Topix slipped 2%. South Korea’s Kospi lost 2.3% and the Kosdaq shed 2.97%.
In Australia, the S&P/ASX 200 declined 1.94%. MSCI’s broadest index of Asia-Pacific shares outside Japan was 1.19% lower.
Meanwhile, Hong Kong’s Hang Seng index gained 0.19%, with the Hang Seng Tech index rising by more than 2%. Mainland China stocks were mixed, with the Shanghai Composite shedding 0.15% and the Shenzhen Component gaining 0.28%.
The Reserve Bank of India’s monetary policy committee is scheduled to meet later this week, and China is expected to release data on factory activity at the end of the week.
Onewo, a subsidiary of property developer China Vanke, is set to debut on the Hong Kong stock exchange this week as well.
|.N225||Nikkei 225 Index||*NIKKEI||26586.5||-567.33||-2.09|
|.HSI||Hang Seng Index||*HSI||17928.58||-4.69||-0.03|
|.AXJO||S&P/ASX 200||*ASX 200||6486.2||-88.5||-1.35|
|.FTFCNBCA||CNBC 100 ASIA IDX||*CNBC 100||7127.52||-111.05||-1.53|
CNBC Pro: Dan Niles predicts when the S&P 500 might bottom, and reveals how he’s profited this year
Hedge fund manager Dan Niles has revealed his outlook for the S&P 500 after the Federal Reserve hiked rates by 75 basis points for the third consecutive time.
He shared the level he expects the S&P 500 to fall to, and stressed that “nothing that is safe” for investors right now.
— Ganesh Rao
Asian currencies weaken against the greenback
The Japanese yen lost ground against the U.S. dollar in Asia’s morning trade, changing hands at 143.60.
The offshore Chinese yuan weakened to 7.1475 per dollar.
South Korea’s won was at its weakest levels since 2009, trading at 1,423 against the greenback.
Australia’s dollar, meanwhile, strengthened slightly to $0.6532.
— Abigail Ng
Stocks prepare to test their lows in the final week of trading for September
Heading into the final week of trading for September, the Dow and S&P 500 are each down about 6% for the month, while the Nasdaq has lost 8%.
Both the Dow and S&P are now sitting 1.2% and 1.6%, respectively, above their lows from mid-June. The Nasdaq is 2.9% above its low.
S&P 500 year-to-date Chart
— Tanaya Macheel
Source : CNBC