Asia-Pacific markets mostly fell on Monday after stocks on Wall Street marked their worst week for 2023 on Friday.
The Nikkei 225 in Japan declined 29.52 points, or 0.1%, to 27,423.96, as the Bank of Japan governor nominee Kazuo Ueda spoke to the country’s upper house on Monday.
In Hong Kong, the Hang Seng index slumped 66.53 points, or 0.3%, to 19,943.51.
Ratings agency Fitch said earnings of Singapore banks will “improve materially” in 2023 as rising interest rates boost their revenue, particularly in the first half of the year.
Fitch noted that Singapore is the only banking sector in the Asia-Pacific with an improving outlook for 2023, although this was premised on wider margins and well-contained credit costs for the sector.
In other markets
Markets in Taiwan were shuttered Monday for holiday.
The Shanghai CSI 300 fell 17.21 points, or 0.4%, to 4,043.84.
In Korea, the Kospi lost 20.97 points, or 0.9%, to 2,402.64.
In Singapore, the Straits Times slid 19.06 points, or 0.6%, to 3,263.24.
In New Zealand, the NZX 50 subtracted 112.92 points, or 0.9%, to 11,793.33.
In Australia, the ASX 200 gave back 82.22 points, or 1.1%, to 7,224.81.
