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By Zhang Mengying
Investing. com – Asia-Pacific stocks fell most frequently on Monday morning as a new wave of the COVID-19 outbreak in China exacerbated global considerations about the global economic outlook.
Japan’s Nikkei 225 was up 0. 94% at 11:02 p. m. Eastern Time (3:02 a. m. GMT).
South Korea’s KOSPI fell 0. 21%.
In Australia, the two-hundred-hundred ASX fell 0. 60%.
Hong Kong’s Hang Seng Index fell 2. 87%.
China’s Shanghai Composite fell 1. 55%, while the Shenzhen component fell 1. 73%. In China, Shanghai on Sunday reported its first case of the highly infectious subvariate BA. 5 omicron and warned of “very high” risks, stoking fears of more blockades. committed to the economy.
Fears of peak inflation and slower economic expansion continue to weigh on markets. EE. UU. se’s unemployment rate remained at 3. 6%, easing some recession fears and raising expectations of further financial tightening.
Treasuries fell, raising the yield on 10-year U. S. bonds to 3. 1%.
Investors are now waiting for the U. S. Consumer Price Index (CPI). The U. S. is expected on Wednesday, which is expected to reach 9%, a new high in 4 decades.
Knowledge of the consumer value index will be “the main driving force of the threat this week” and a 9% impression is possible, which “should keep U. S. bond yields high,” Chris Weston, head of research at Pepperstone Group, said in a note.
President Joe Biden’s talks about imaginable actions supporting U. S. price lists on Chinese imports continue. Biden and his Chinese counterpart, Xi Jinping, are expected to respond in the coming weeks.
On the knowledge front, insights into China’s exports and imports are expected on Tuesday.
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