The Monday trading session in the Asia-Pacific market was a letdown for the traders. Almost the entire Asian market saw a decline and it has nothing to do with Asia’s internal developments.
Instead, it is the US inflation data that is to be shared by the US Feds this week. They are looking forward to seeing the inflation data before they make a move, which also includes the Asian markets.
As a result, the Asia-Pacific market has recorded a downtrend and the stock markets have recorded negative figures.
Asian Stock Market Performance
The first and major index from the Hong Kong stock exchange market is the Hang Seng index. The Monday trading session has seen the index drop by 2.2%.
The index continued recording declines and end its day at 19,463.63 points. Then the major Hang Seng Tech index also recorded a major setback.
It recorded a 4.05% dip in the Monday trading session, ending the day at 4,192.67 points.
The S&P/ASX 200 Index from Australia has also moved downwards. It has recorded a 0.45% dip and has fallen to 7,180.8 points.
The Nikkei 225 index from Japan has also recorded a dip in the latest trading session. It has dipped 0.21% only to end the day at 27,842.33 points.
Another index from Japan, the Topix index has seen a decline in its performance, moving down by 0.22% only to move down to 1,957.33 points.
The Kosdaq index from South Korea has also moved in the negative direction losing 0.59% on Monday and ending the trade at 715.22 points. As for the Kospi index, the investors were shocked to see a 0.67% dip.
With a great dip, the Kospi index ended its trading at 2,373.02. The Asia-Pacific market’s broadest index, MSCI, which is based outside of Japan has also recorded a 1.13% slide.
The Shenzhen Component from China’s mainland has also moved lower. It has shed 0.673% of its points in the latest trading session while the Shanghai Composite has also demonstrated similar performance.
The report shows that the Shanghai Composite has recorded a 0.63% dip, moving down to 3,179.04 points.
India to Share its Inflation Data
India is also among the Asian countries that have recorded negative gains in the Monday trading session. The major concern for India at the moment is also the inflation data.
In addition to that, the Indian investors are also waiting for the industrial output data. This will help the Indian Feds to decide what their next course of action would be.
Given the recent developments in India involving oil, the inflation rate may surge in the country. This is because the country is facing a major oil crisis.
It has started importing oil from Russia but turns out, it is not enough for the second-largest country by population to fulfill its daily requirement.
India is among the fastest-growing countries in terms of economy as well as population. It has been predicted that the Indian population will be the highest in the entire world in the next few years.
However, the majority of the population in India is below the poverty line so the country has serious issues that it needs to handle.
With the inflation rates rising in the country, it will be faced with the worst fears and has to find a way out of it.
US Meeting is pending
On the complete other side of the planet, the US Feds are expected to hold their two-day meeting. They will be coming up with the inflation data as well as deciding whether they are going to hike interest rates or not.
The meeting is to take place on Tuesday and it will decide the fate of the US economy. In both cases, their country has a fear of facing a recession in 2023.
However, if the Feds decide to lower or halt the interest rate hikes, then the chances of recession can be lowered.
