Asian markets saw cautious trading in the absence of Wall Street on Monday as investors considered challenges facing economies and central banks.
TOKYO — Asian markets were mostly lower in cautious trading Monday ahead of a federal holiday in the U.S.
Worries over inflation and risks of a global recession from central bank efforts to bring it under control appeared to outweigh Wall Street’s positive close on Friday. Japan’s benchmark Nikkei 225 NIK fell 0.7% to 25,771. Australia’s S&P/ASX 200 XJO slipped 0.6% to 6,433. SHCOMP South Korea’s Kospi 180721 dropped 2.1% to 2,389.69. Hong Kong’s Hang Seng HSI edged up 0.1% to 21,111, while the Shanghai Composite SHCOMP was little changed, inching up less than 0.1% to 3,317.69.
A weaker currency can help the earnings of Japan’s exporting giants like Toyota Motor Corp. TM , but it can also signal a fragile economy. The U.S. dollar was trading at 134.92 Japanese yen USDJPY on Monday, down from 134.96 yen. The euro EURUSD cost $1.0526, up from $1.0498.
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