China markets return to trade, Hang Seng index drops
The Chinese and Hong Kong flags flutter as screens display the Hang Seng Index outside the Exchange Square complex, which houses the Hong Kong Stock Exchange, on January 21, 2021 in Hong Kong, China.
Zhang Wei | China News Service via Getty Images
Shares in the Asia-Pacific fell on Monday, with Hong Kong stocks leading losses.
The Hang Seng index fell more than 2% in early trade, with the Hang Seng Tech index down 3.17%.
In mainland China, the Shanghai Composite lost 0.39% on its return to trade after the Golden Week holiday and the Shenzhen Component dropped around 1%. The S&P/ASX 200 was 1.63% lower.
Markets in Japan, South Korea, Taiwan and Malaysia are closed for holidays Monday.
Later this week, the Bank of Korea will announce its benchmark interest rate decision, Singapore is set to announce its GDP estimate for the third quarter and China releases inflation data.
Taiwan Semiconductor Manufacturing Company and Japan’s Fast Retailing will report earnings and the U.S. will release inflation data for September.
On Friday in the U.S., major stock indexes dropped more than 2% after data showed the unemployment rate declined in September, sparking fear that the Federal Reserve would continue hiking rates aggressively.
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