Asia-Pacific Markets Dip Amid U.S. Inflation Worries and Growth Concerns: What You Need to Know

In the Asia-Pacific region, markets dipped on Monday following a challenging session in the U.S. last Friday. Economic data from the U.S. suggested that growth is slowing, and inflation remains stubbornly high.

In mainland China, the CSI300 index fell 0.22%, closing at 3,969.72. Hong Kong’s Hang Seng index was down 0.58% at 23,341.61, retreating from a nearly three-year high achieved earlier.

Indian stocks also struggled, with the Nifty 50 dropping 1.08% and the BSE Sensex falling 1.03% as of 1:30 p.m. local time.

South Korea’s Kospi decreased by 0.35%, finishing at 2,645.27, while the smaller Kosdaq closed 0.17% lower at 773.33.

On a positive note, Australia’s S&P/ASX 200 managed to gain slightly, up 0.14% to reach 8,308.20, ending a five-day losing streak. Meanwhile, Japanese markets were closed due to a public holiday.

In Singapore, core inflation, which excludes certain costs like housing and transport, rose by 0.8% year-on-year in January. This is the lowest rate since June 2021 and less than the 1.5% predicted in a recent poll. Headline inflation also dropped to 1.2%, the lowest since February 2021, and below the expected 2.15%.

Last Friday, the U.S. stock market experienced a downturn. The Dow Jones Industrial Average fell 748.63 points, or 1.69%, closing at 43,428.02. This marked the worst loss for the Dow this year, and the index has now lost about 1,200 points over two days. The S&P 500 also slid by 1.71%, closing at 6,013.13, following a record high just days earlier. The Nasdaq Composite dropped 2.2%, finishing at 19,524.01.

Investors are keeping a close eye on the evolving economic landscape, looking for signs of stability amidst the fluctuations.

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