A woman rides her bicycle with the Marina Bay Sands hotel and high-rise buildings in the background in Singapore on Sept. 4, 2023.
Roslan Rahman | AFP | Getty Images
Asia-Pacific markets were mixed on Monday as investors monitored inflation data from the region.
Singapore and Malaysia both released inflation reports that came in higher than expected on Monday.
Australia’s February consumer price index will be out on Wednesday, while Tokyo’s inflation numbers are due Friday. The Japanese capital’s inflation numbers are widely seen as a leading indicator of nationwide trends in the country.
Hong Kong’s Hang Seng index was 0.14% lower, while mainland China’s CSI 300 index was hovering close to the flatline.
Japan’s Nikkei 225 closed 1.16% lower at 40,414.12, retreating from its all-time high set on Friday, while the broad-based Topix closed down 1.26% at 2,777.64.
South Korea’s Kospi dipped 0.4%, after opening higher and coming close to two-year highs. The small-cap Kosdaq gained 1.10%.
In Australia, the S&P/ASX 200 rose 0.53% and closed at 7,811.9, rebounding from Friday’s losses and edging close to record highs.
On Friday in the U.S., the Dow Jones Industrial Average retreated by over 300 points, or 0.77%, after back to back sessions where the index set all time records. The S&P 500 fell 0.14%.
However, the Nasdaq Composite continued its rally, adding 0.16% to close at 16,428.82 for another record.
“It’s a digestion period after a really strong week,” said Truist’s co-chief investment officer Keith Lerner of Friday’s moves. “Our view is that the overall trend is still positive for the market, especially when you see this breakout of new highs, on track for your fifth consecutive month of gains.”
— CNBC’s Samantha Subin and Lisa Kailai Han contributed to this report