Stocks in Asia-Pacific mostly fell on Monday as investors look ahead to a week of crucial economic data releases, including the U.S. consumer price index that will determine the Federal Reserve’s path forward.
In Japan, the Nikkei 225 index dumped 243.66 points, or 0.9%, to 27,427,32, as the Japanese yen continued to remain volatile after a report that Japan will nominate Kazuo Ueda as its next central bank governor.
In Hong Kong, the Hang Seng Index lost 26 points, or 0.1%, to 21,164.42.
New Zealand and Australian indexes each took losses as New Zealand braced for further impact from tropical cyclone Gabrielle.
CHINA
The Shanghai CSI 300 regained 37.26 points, or 0.9%, to 4,143.57.
China’s central bank announced to tighten risk management requirements for banks, according to a notice published on Saturday.
Banks will be required starting July 1 to classify financial-asset risks in a “timely and prudent” manner, the notice said, adding the move is targeted at better assessing credit risks for the lenders.
The notice said assets, including loans, bond investment, interbank lending and off-balance sheet assets, must be classified into five categories ranging from “normal” to “loss.”
Shares of Chinese banks fell on Monday, with Ping An Bank leading the losses and trading 2.5% lower.
In other markets
In Korea, the Kospi erased 17.03 points, or 0.7%, to 2,452.70.
In Singapore, the Straits Times dropped 35.99 points, or 1.1%, to 3,324.70.
In Taiwan, the Taiex fell 42.37 points, or 0.3%, to 15,544.28.
In New Zealand, the NZX 50 retreated 103.58 points, or 0.9%, to 12,075.18.
In Australia, the ASX 200 subtracted 15.91 points, or 0.2%, to 7,417.75.