Customers at a fresh food market on Monday, August 7, 2023 in Shanghai, China.
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Asia-Pacific stocks led losses after Japan avoided a technical recession, paving the way for the central bank to raise interest rates, while investors also assessed inflation data from China.
this Nikkei 225 Index Technology stocks led the decline of nearly 3%, falling below the 39,000 mark for the first time since February 21 Revised official data Data show that Japan’s GDP grew by 0.4% from October to December last year. The Topix fell 2.98%.
In addition, China experienced inflation for the first time after four months of deflation, with the consumer price index increasing by 0.7% year-on-year in February.
CPI fell 0.8% in January, also exceeding the 0.3% expected by economists polled by Reuters.
Korean Cospi It fell 0.46%, with the small-cap Kosdaq index rising slightly.
In Australia, S&P/ASX 200 Index It opened the week down 1.83%, falling from its all-time high and ending a three-day winning streak.
However, Hong Kong’s Hang Seng Index bucked the trend and rose 1.28%, while mainland China’s CSI 300 Index rose 0.8%.
All three major U.S. stock indexes fell on Friday, and so did the artificial intelligence darling Nvidia It closed down more than 5%, its worst trading day since the end of May.
Investors also assessed the latest data Department of Labor Bureau of Labor Statistics The report said non-farm employment increased by 275,000 this month, and the unemployment rate rose to 3.9%.
this S&P 500 Index fell 0.65%, while Nasdaq Index down 1.16%. Both moved into negative territory after rising to record highs earlier in the session.this Dow Jones Industrial Average gave up 0.18%.
—CNBC’s Pia Singh and Alex Harring contributed to this report
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