Asian Markets Fall Amid Inflation, Sanctions, Nvidia Fears
By ThePip Desk
Asian markets opened lower Monday, pressured by rising bond yields, global inflation, Iran sanctions, and anticipation of Nvidia’s earnings. Key indices saw declines.
Asian markets opened Monday’s trading session in the red, pressured by elevated bond yields and persistent global inflation worries. Investors also adopted a cautious stance ahead of new economic sanctions against Iran and Nvidia’s quarterly earnings.
The regional technology sector experienced nervous trading as market participants awaited crucial quarterly earnings results from Nvidia. This added to a broader cautious sentiment influencing trading across Asia.
Key Market Declines Across Asia
- Nikkei: down by 378.36 points or 0.57% to 65,638.00.
- Hang Seng: dipped by 519.46 points or 2% to 25,490.00.
- Straits Times: declined by 12.06 points or 0.21% to 5,676.90.
- Taiwan Weighted: narrowed by 369.93 points or 0.82% to 44,854.36.
- KOSPI Index: tumbled by 228.81 points or 3.31% to 6,684.14.
- Jakarta Composite: declined by 45.04 points or 0.69% to 6,480.65.
- Shanghai Composite: dipped by 42.55 points or 1.09% to 3,862.65.
- FTSE Bursa Malaysia KLCI index: curtailed by 0.25 points or 0.01% to 1,736.23.
Japan’s Nikkei index specifically extended losses from the previous session. This came amid expectations of a rate hike by the Bank of Japan, further dampening investor sentiment. Increased Japanese government bond yields contributed to rising borrowing costs.