Major stock indexes in Asia-Pacific traded lower on Monday following Wall Street's drop, which was seemingly prompted by hotter-than-anticipated PCE data, as interest rate fears continued to rattle the markets. Meanwhile, the Japanese government's nominee for the next governor of the Bank of Japan (BoJ), Kazuo Ueda, shared that inflation is expected to fall below 2% during this year.
In mainland China, the Shanghai Composite declined 0.23% at 7:06 am CET, with the Shenzhen Composite losing 0.66% a minute later. At 7:08 am CET, while South Korea's Kospi Composite slumped 0.96%, Hong Kong's Hang Seng fell 0.67% simultaneously.
Australia's S&P/ASX 200 tumbled 1.12% and Japan's Nikkei 225 dipped 0.11% at the closing bell. The dollar traded 0.08% lower against the yen, selling for 136.30200 at 7:09 am CET.
