A basic view revealing the Hong Kong Skyline on October 13, 2022 in Hong Kong, China.
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Asia-Pacific markets began the last week of June blended, even as U.S. markets snapped a multi-week winning streak Friday.
In an early Monday note, CMC Markets expert Tina Teng, composed that “economic concerns took central stage again as recession fears mounted, with spiking rates in both Europe and the US rattling global markets.”
Over the weekend, Europe likewise saw a quick disobedience by the Wagner personal military group in Russia, pressing oil costs up on Monday.
Hong Kong’s Hang Seng index extended recently’s losses to fall 0.4%. Mainland Chinese stocks likewise fell on its return from a two-day vacation, with the Shanghai Composite shutting down 1.48% at 3,15062 in a fourth-straight day-to-day loss.
The Shenzhen Component tape-recorded the most significant loss amongst Asia-Pacific indexes on Monday, ending 1.69% lower at 10,8723.
In Japan, the Nikkei 225 reversed earlier gains to shut down 0.25% at 32,69881 in a third-straight day-to-day loss, while the Topix ended down 0.20% at 2,260
In Australia, the S&P/ ASX 200 fell 0.29% and ended at 7,0787, dragged by energy stocks and marking its 4th straight day of losses.
South Korea’s Kospi bucked the broader sell, climbing up 0.47% to close at 2,5822, while the Kosdaq ended up 0.53% at 879.5.
All 3 significant U.S. indexes moved in Friday’s trading session, with the Dow Jones Industrial Average falling 0.65%, while the S&P 500 dropped 0.77% and the Nasdaq Composite closed lower by 1.01%.
— CNBC’s Sarah Min and Samantha Subin added to this report
