Major stock indexes in Asia-Pacific traded mostly lower on Monday after Wall Street ended the previous week with losses, as concerns over the global economy possibly entering a recession continued to fuel the negative market sentiment.
Last week, central banks across the world decided to increase their interest rates in an effort to tame rampant inflation. The monetary policy steps, alongside the ongoing COVID-19 struggle in China, seemingly rekindled worries over global economic growth.
In mainland China, the Shanghai Composite tumbled 0.81% at 3:00 am CET, while the Shenzhen Composite declined 0.41% a minute later. At 3:02 am CET, South Korea's Kospi Composite fell 0.23%, while Hong Kong's Hang Seng gained 0.48% simultaneously.
At 3:03 am CET, Australia's S&P/ASX 200 decreased 0.10% and Japan's Nikkei 225 slid 1.08%. The dollar traded 0.65% lower against the yen, selling for 135.80300 at 3:04 am CET.
