Asia-Pacific markets continued deepening losses on Monday after investors digested key economic data from the Australian, Japanese and Chinese service sectors in July. Intensive sell-off in the region follows the monetary policy decision of the Bank of Japan last week to increase interest rates.
Japan's Nikkei 225 nosedived by 8.76% at 7:00 am CET reaching a benchmark of 32,763.13, its lowest point since December 2023. South Korea's Kospi plummeted 7.54% at the same time, dropping its lowest since January. Hong Kong's Hang Seng decreased 0.22%, simultaneously.
In mainland China, the Shanghai Composite traded 0.12% lower at 7:03 am CET while the Shenzhen Composite went 0.12% down at the same time. Australia's S&P/ASX 200 lost 3.34% at 7:02 am CET.
The dollar continued losing terrain against the Japanese yen by trading 2.15% lower at 7:00 am CET, selling for 143.2260.
