Asia-Pacific markets fell sharply on Monday, following Wall Street’s worst session of the year last Friday. The data from the US economy pointed to a slowing down and sticky inflation.
The CSI300 index in mainland China dropped 0.22% to close at 3,969.72, while Hong Kong’s Hang Seng index ended lower by 0.58%. Indian stocks also fell, with the Nifty 50 down 1.08%, and the BSE Sensex index losing 1.03%.
However, Australia’s S&P/ASX 200 broke its five-session losing streak, ending up 0.14% higher at 8,308.20. Japanese markets were closed due to a public holiday.
Singapore’s core inflation, which strips out accommodation and private transport costs, rose 0.8% year on year in January, the lowest reading since June 2021. The headline inflation also came in at 1.2%, lower than the estimated 2.15%.
The US Dow Jones Industrial Average declined by 1.69%, while the S&P 500 and Nasdaq Composite fell by 1.71% and 2.2% respectively.
The odds of the Federal Reserve cutting interest rates two to three times by December 2025 have surged, with trading in 30-day fed funds futures contracts suggesting roughly 55% odds.
Source: https://www.cnbc.com/2025/02/24/asia-markets-live-update-asia-markets-primed-to-fall.html