Asia Uniformly Down - InvestingChannel

Asia Uniformly Down

Asia-Pacific markets started the week on soft footing, with stocks in Tokyo leading declines as investors look ahead to key economic data from China and Japan this week.

In Japan, the Nikkei 225 capsized 656.96 points, or 2%, to 31,659.03.

Japan’s September inflation data is expected on Friday, which will come ahead of the country’s central bank’s monetary policy meeting on Oct. 30 and 31.

In Hong Kong, the Hang Seng lost 173.09 points, or 1%, to 17,640.36.

South Korea’s central bank will also announce its rate decision on Thursday. The Bank of Korea has held rates steady for five meetings in a row at 3.5% since February.

CHINA

In Shanghai, the CSI 300 lost 36.81 points, or 1%, to 3,626.60.

China will release its third-quarter gross domestic product numbers on Wednesday. Economists polled by Reuters expect a 4.4% year-on-year expansion, down from 6.3% in the previous quarter.

The People’s Bank of China left its one-year medium-term lending facility rate unchanged at 2.50%, as expected.

In other markets

In Taiwan, the Taiex dropped 130.33 points, or 0.8%, to 16,652.24.

In Korea, the Kospi index descended 19.91 points, or 0.8%, 2,436.24.

In Singapore, the Straits Times Index dipped 21.9 points, or 0.7%, to 3,163.89.

In New Zealand, the NZX 50 subtracted 80.64 points, or 0.7%, to 11,185.08.

In Australia, the ASX 200 fell 24.48 points, or 0.4%, to 7,026.56.

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