Australia will release inflation numbers for September on Wednesday, while Japan will release Tokyo’s inflation figures on Friday
Asia-Pacific markets continued their sell-off ahead of a week of inflation data from across the region and South Korea’s Q3 GDP figures.
Australia will release inflation numbers for September on Wednesday, while Japan will release Tokyo’s inflation figures on Friday. Tokyo’s inflation is regarded a leading indicator of nationwide figures.
Singapore saw its September inflation rate increase marginally to 4.1% from 4% in August, in line with expectations.
In Australia, the S&P/ASX 200 dropped 0.82% to end at 6,844.1, extending declines from last week for a third successive session of losses.
Japan’s Nikkei 225 dipped 0.83% to end the day at 30,999.55, the third time the index ended below the 31,000 level this month. Before October, it has held above 31,000 since May. The Topix was 0.75% lower and closed at 2,238.81.
South Korea’s Kospi ended 0.76% down at 2,357.02, marking its third day of losses, while the Kosdaq pared early gains to close 0.72% lower in a fourth successive daily loss.
Hong Kong’s markets are closed for a holiday Monday, but the mainland Chinese CSI 300 index ended 1.04% lower to dip to its lowest closing level since February 2019 at 3,474.24.
On Friday in the U.S., all three major indexes dropped as a jump in the 10-year Treasury yield prompted wider concerns about the state of the economy.
Most notably, the yield on the benchmark 10-year Treasury surpassed 5% for the first time in 16 years on Thursday.
The S&P 500 declined 1.26%, notching its first losing week in three, while the Nasdaq Composite shed 1.53% and the Dow Jones Industrial Average shed 0.86%.