Asian equities mostly declined today, with the Singapore Straits Times Index (STI) dropping 0.4%. Investors are concerned about global economic slowdown and the potential path of US Federal Reserve rate hikes.
Asian regional markets were generally under pressure today, reflecting the weak performance on Wall Street last Friday. The Singapore Straits Times Index (STI) fell 0.4% to 3205 points, primarily dragged down by banking stocks and REITs. Hong Kong's Hang Seng Index (HSI) saw a steeper decline of 0.8%. Market sentiment was dominated by concerns over slowing global economic growth and expectations that the US Federal Reserve might keep interest rates higher for longer. While the Malaysian market showed relative resilience, the subdued regional mood limited the upside for the KLCI. Investors are now looking ahead to key Chinese economic data due this week to gauge the regional growth outlook.
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