- Hong Kong’s Hang Seng index fell as high as 1.8%, while South Korea’s Kospi index fell 0.9%.
- Japan’s Topix rose 1.4% and China’s CSI 300 was largely unchanged.
- Lockdowns in China and a possible US recession hurt Asian markets.
Asia-Pacific market emotions differed on Monday, despite the resuming of lockdowns in China and ongoing concerns about the possibility of a US recession.
Hong Kong’s Hang Seng index fell as high as 1.8%, while South Korea’s Kospi index fell 0.9%. However, Japan’s Topix rose 1.4% and China’s CSI 300 was largely unchanged.
A increasing epidemic of Covid-19 in China prompted the restoration of lockdown measures in one county of Anhui province and the renewal of nationwide testing mandates.
The affected locations included Wuxi, a manufacturing hub in the east, which encouraged workers to work from home and suspended dine-in services at eateries.
Since Shanghai, China’s commercial and financial centre, emerged from a two-month shutdown that shook the markets in April and May, investors have keenly monitored any indications of a recurrence of lockdowns.
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