The Hang Seng index declined 1 per cent, the CSI 300 index slid 0.65 per cent, the S&P/ASX 200 gained 0.73 per cent, Kospi added 0.4 per cent, Kosdaq advanced 0.15 per cent, the Nikkei 225 slid 0.6 per cent, and the Topix dropped 0.83 per cent
Asia-Pacific markets were mixed on Monday, with investors awaiting a string of key economic data Tuesday and inflation numbers later this week.
Inflation readings for Tokyo will be released Tuesday, which is widely seen as a leading indicator for nationwide trends. South Korea inflation figures will also be out the same day.
The Reserve Bank of Australia will hold its final meeting for the year tomorrow, with economists polled by Reuters expecting the RBA to hold rates at 4.35 per cent.
Hong Kong’s Hang Seng index declined 1 per cent in its final hour of trade after making earlier gains, while the mainland Chinese CSI 300 index slid 0.65 per cent to reach its lowest level since February 2019.
In Australia, the S&P/ASX 200 gained 0.73 per cent and ended at 7,124.7, leading gains among major benchmarks in Asia-Pacific and reaching its highest level since September 20.
South Korea’s Kospi added 0.4 per cent to close at 2,514.95, while the small-cap Kosdaq pared earlier gains to advance 0.15 per cent, closing at 828.52.
In Japan, the Nikkei 225 slid 0.6 per cent to 33,321.27, while the Topix dropped 0.83 per cent to end at 2,362.65.
On Friday in the U.S., the S&P 500 and the Dow Jones Industrial Average reached new highs for 2023, advancing 0.59 per cent and 0.82 per cent respectively. The tech-heavy Nasdaq Composite added 0.55 per cent.
This came despite U.S. Fed Chair Jerome Powell pushing back against the market’s expectations for interest rate cuts ahead, saying it was “premature to conclude with confidence” that monetary policy was “sufficiently restrictive.”
