SINGAPORE — Hong Kong’s Hang Seng Tech index lost nearly 2% on Monday as major Asia-Pacific indexes fell.
this Hang Seng index Hong Kong fell 0.72%, and the Hang Seng Tech index lost nearly 2%.
The Financial Times Over the weekend, China reported that it plans to divide Chinese companies traded in the US into three groups depending on the sensitivity of the data held by the companies.
Citing people familiar with the situation, the FT aims to prevent American regulators from delisting Chinese companies by bringing some firms into compliance with U.S. rules under the new system. Chinese firms with “confidential” data will have to be delisted, the report said.
Hong Kong shares of Chinese companies traded in the US fell on Monday. No fell 6.86%, XPeng lost 7.07% and Ali Dad It fell 1.76%.
Mainland Chinese markets also fell. this Shanghai Composite fell 0.28% and Shenzhen Component 0.36% spilled.
With the US FOMC meeting focused, Asian assets are likely to be mixed earlier in the week and stagflation risks remain on the agenda.
Venkateswaran Lavania
Economist, Mizuho Bank
this Nikkei 225 In Japan, it fell 0.73% and the Topix index lost 0.66%.
in South Korea, Kospi Supporting the upward trend of 0.37%, Kosdaq lost 0.24%.
Australia’s S&P/ASX 200 It was 0.1% lower.
MSCI’s largest index of Asia-Pacific shares outside Japan fell 0.44%.
Inflation data in Singapore will be released on Monday. Economists polled by Reuters expect the June core consumer price index to increase by 4.2% compared to a year ago. Prices rose 3.6% in May.
weekend The World Health Organization has declared monkeypox a global health emergency. The organization’s emergency committee was unable to reach a consensus, but WHO chief Tedros Adhanom Ghebreyesus made the decision to issue the highest warning, though he said it is unlikely to disrupt global trade or travel at this time.
Later this week, all eyes will be on the Fed’s rate decision and the release of US second-quarter gross domestic product data.
In July, a 75 basis point move expectation was realized as 78.7 percent. CME Group’s FedWatch Tool.
“With the focus on the US FOMC meeting, Asian assets will likely trade mixed earlier in the week and stagflation risks remain in mind,” Mizuho Bank economist Venkateswaran Lavanya said in a note Monday.
In the Asia-Pacific region, preliminary estimates for South Korea’s GDP will be released on Tuesday, and Australia will release inflation data on Wednesday.
Currencies and oil
this US dollar indexIt was at 106,662 following the dollar against a basket of peers.
this Japanese Yen It traded at 136.12 per dollar after strengthening sharply late last week. this Australian dollar It is down $0.32 at $0.6903, just above the $0.69 level.
Oil futures gave up early Asian morning gains. US crude oil It fell 0.95% to $93.80 per barrel. Brent crude oil The 0.73% loss fell to $102.45 per barrel.
— CNBC’s Patti Domm and Spencer Kimball contributed to this report.
