China’s Csi 300 Hits Near 5-year Low; Asia Markets Mixed as Gold Breaches All-Time High, Bitcoin Crosses $40,000

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Asia-Pacific markets were mixed on Monday, with investors awaiting a slew of key economic data Tuesday and inflation readings later this week.

Inflation readings for Tokyo will be released Tuesday, which is widely seen as a leading indicator for nationwide trends. South Korea inflation numbers will also be out the same day.

The Reserve Bank of Australia will hold its final meeting for the year tomorrow, with economists polled by Reuters expecting the bank to hold rates at 4.35%.

Hong Kong’s Hang Seng index dropped 1% in its final hour of trade after making earlier gains, while the mainland Chinese CSI 300 index slipped 0.65% to hit its lowest since February 2019.

In Australia, the S&P/ASX 200 rose 0.73% and closed at 7,124.7, leading gains among major benchmarks in Asia-Pacific and hitting its highest level since Sept. 20.

South Korea’s Kospi rose 0.4% to end at 2,514.95, while the small-cap Kosdaq pared earlier gains to rise 0.15%, ending at 828.52.

In Japan, the Nikkei 225 slipped 0.6% to 33,321.27, while the Topix fell 0.83% to close at 2,362.65.

TICKER COMPANY NAME PRICE CHANGE %CHANGE 
.N225Nikkei 225 Index*NIKKEI32206.91-651.4-1.98
.HSIHang Seng Index*HSI16384.939.010.24
.AXJOS&P/ASX 200*ASX 2007194.921.60.3
.SSECShanghai*SHANGHAI2974.758.540.29
.KS11KOSPI Index*KOSPI2517.6725.61.03
.FTFCNBCACNBC 100 ASIA IDX*CNBC 1008360.3618.070.22

On Friday in the U.S., the S&P 500 and the Dow Jones Industrial Average hit new highs for 2023, gaining 0.59% and 0.82% respectively. The tech-heavy Nasdaq Composite advanced 0.55%.

This came despite U.S. Federal Reserve Chair Jerome Powell pushing back against the market’s expectations for interest rate cuts ahead, saying it was “premature to conclude with confidence” that monetary policy was “sufficiently restrictive.”

Source : CNBC