Asian stocks mixed in new week's trading kickoff
BEIJING — Asian stock markets were mixed Monday after last week’s Wall Street decline amid worries that the Federal Reserve will raise interest rates as soon as March.
Investors were rattled last week after notes from the latest Fed meeting showed officials thought the U.S. job market is healthy enough that it might no longer need ultralow interest rates and other stimulus. The Shanghai Composite Index SHCOMP, +0.39% gained 0.2% to 3,587.69 and the Hang Seng in Hong Kong HSI, +1.08% advanced 0.9% to 23,702.90. The Kospi in Seoul 180721, -0.95% fell 1.2% to 2,919.46 and Sydney’s S&P ASX 200 XAO, -0.11% lost 0.1% to 7,444.70.
On Friday, Wall Street’s benchmark S&P 500 index SPX, -0.41% fell 0.4% to 4,677.03, or about 2.5% below Jan. 3’s record high. Record-low interest rates have helped to boost stock prices despite bouts of unease about the coronavirus pandemic.
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