Hong Kong.
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The Asia-Pacific market fell primarily on Monday after Wall Street recorded its worst session last week as US economic data pointed to economic decline and sticky inflation.
Mainland China’s CSI300 index fell 0.22% to close to 3,969.72. Hong Kong’s Hangsen Index closed 0.58% lower at 23,341.61 after hitting a nearly three-year high in the previous session.
Indian stocks remained in negative territory, with Nifty50 down 1.08%, while the BSE Sensex index lost 1.03% as of 1.30pm local time.
Korean Kospi finished 0.35% lower at 2,645.27, while the small Kosdaq fell 0.17% at 773.33.
Australia S&P/ASX 200 He ended a 0.14% higher day at 8,308.20, beating his five-session losing streak.
The Japanese market has been closed due to public holidays.
Government data shows that Singapore’s core inflation has risen 0.8% year-on-year in January, removing accommodation and private transportation costs. This is the lowest reading since June 2021, lower than the 1.5% forecast in Reuters polls.
Meanwhile, headline inflation was 1.2% per year, the lowest since February 2021. Reading was lower than Reuters estimated 2.15%.
In the US, three major averages fell on Friday. This is because new data raised investors’ economic concerns. It also escalates losses amid fears over further policy moves by US President Donald Trump, suggesting many tariffs and other changes within a month of inauguration.
The Dow Jones industrial average lost 748.63 points (1.69%) to close at 43,428.02. The worst Friday decline of the year marked the two-day loss to around 1,200 points. The S&P 500 finished at 6,013.13 by sliding 1.71%, marking its second negative session after the index was finished on Wednesday’s record. NASDAQ composites fell 2.2% to settle at 19,524.01.
– CNBC’s Brian Evans and Lisa Kailay Han contributed to this report.
