Stocks in Asia-Pacific mixed into the new week after the Wall Street Journal reported that some Fed officials were too worried about tightening policy.
Shares in Asia-Pacific were mixed on Monday after US stocks rallied after the Wall Street Journal reported on Friday that some Fed officials were worried about tightening policy too much.
Hong Kong’s Hang Seng index fell more than 4 percent, while the Hang Seng Tech index fell nearly 6 percent.
Tai Hui, APAC Chief Market Strategist at JPMorgan Asset Management, said some factors had recently driven the Hong Kong market, including higher US Treasury yields.
Investors can also wait for policy measures to be announced during the Chinese Communist Party’s 20th National Congress, which closed over the weekend when loyalists of President Xi Jinping were tasked to form a core leadership group.
“As the meeting is mostly about personnel changes, the economic recovery may not come as quickly as we hoped,” said strategist Hui.
Mainland Chinese markets briefly entered the positive territory with better-than-expected economic data before falling again. The Shanghai Composite was last 0.52 percent lower in mainland China, and the Shenzhen Composite was down 0.361 percent.
In Australia, the S&P/ASX 200 was 1.66 percent higher. Kospi South Korea gained 1.17 percent and Kosdaq 2.28 percent.
Japan’s Nikkei 225 rose 0.99 percent and Topix 0.84 percent. MSCI’s most extensive index of Asia-Pacific shares outside Japan fell 0.74 percent.