Asian stocks were mixed on Monday, with mainland Chinese equities and South Korea's KOSPI index falling due to interest rate concerns and geopolitical tensions.
Asian major stock markets showed mixed performance on Monday, influenced by rising global interest rates, trade tensions, and inflation concerns stemming from the Middle East conflict. Mainland Chinese stocks fell, with the CSI 300 Index dropping 0.7% to a 13-month closing low. The Shanghai Composite Index fell 16 points, or 0.43%, to close at 3,797 points. The Shenzhen Component Index dropped 256 points, or 2.03%, to close at 12,384 points. The ChiNext Index fell 79 points, or 2.61%, to close at 2,963 points. South Korea's KOSPI index plunged 241 points, or 3.65%, to close at 6,384 points, its lowest closing level since August 11. Hong Kong's Hang Seng Index, however, rose 59 points, or 0.2%, to close at 24,271 points. Market risk appetite was further dampened by the US launching investigations into technology companies such as Luxshare Precision and Foxconn Industrial Internet. The market reaction to China Securities Regulatory Commission (CSRC) Chairman Wu Qing's Saturday seminar and the draft rules released on Friday to lower the threshold for establishing equity public funds was muted. (Reuters & Xinhua News Agency)
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