Asia-Pacific markets presented a mixed performance on Monday as investors focused on upcoming regional economic data. In Japan, the Nikkei 225 index saw a decline of 0.63%, influenced by new data indicating the economy had contracted by a smaller-than-expected 0.4% for the quarter ending in September. The Topix index too experienced a downturn, losing 0.44%.
Conversely, South Korea’s Kospi demonstrated robust gains, surging 1.78%, while the small-cap Kosdaq followed suit, rising 0.68%. In Hong Kong, futures for the Hang Seng index hovered around 26,500, slightly below its previous close of 26,572.46. Meanwhile, Australia’s benchmark S&P/ASX 200 fell by 0.26%, reflecting a cautious sentiment amid mixed signals from other regional markets.
Market participants are eagerly awaiting Thailand’s third-quarter GDP results and Singapore’s balance of trade data scheduled for later today, which could further influence trading sentiment across the region.
In the United States, the situation appeared slightly more optimistic as the Nasdaq Composite rebounded, gaining 0.13% to conclude at 22,900.59. This uptick came a day after the tech-heavy index led Wall Street to its worst performance in over a month. The S&P 500 finished almost flat, dipping just 0.05% to settle at 6,734.11, while the Dow Jones Industrial Average saw a more significant decline, losing 309.74 points, or 0.65%, to close at 47,147.48.
All three indexes had shown considerable resilience, bouncing back from intraday lows where the Nasdaq and S&P 500 were down approximately 1.9% and 1.4%, respectively, while the Dow had experienced a drop of nearly 600 points, translating to a rough 1.3% slide. This recovery indicates a potential optimism among investors in the tech sector, as they began to accumulate shares after a period of significant volatility.
