Asia-Pacific markets were mostly lower Monday at the start of the penultimate week of 2023, while South Korean shares bucked the trend as defense stocks led gains.
In Japan, the Nikkei 225 index dropped 211.57 points, or 0.6%, to 32,758.98.
The Bank of Japan will meet for the last time this year. A note from Dutch bank ING said it expects the BOJ to maintain all its major policy settings, “though the overall tone about future policy at the press conference and statement could start to soften.“
A Reuters poll of economists also expects the BOJ to maintain its benchmark interest rate at -0.1%.
Separately, China will release its loan prime rates on Wednesday, while inflation data from Japan is due Friday.
In Hong Kong, the Hang Seng slumped 162.96 points, or 1%, to 16,629.23.
Shares of defense companies were broadly higher. Korea Aerospace Industries’ stock and Hyundai Rotem were up about 1% each, but shares of Hanhwa Aerospace dipped.
In other markets
In Shanghai, the CSI 300 subtracted 12.18 points, or 0.4%, to 3,239.37, a four-day losing streak and hit fresh four-year lows.
In Singapore, the Straits Times Index stepped back 3.28 points or 0.1%, to 3,113.23.
In Taiwan, the Taiex settled 21.84 points, or 0.1%, to 17,652.03.
In Korea, the Kospi index inched higher 3.3 points, or 0.1%, to 2,566.86.
In New Zealand, the NZX 50 advanced 14.78 points, or 0.1%, to 11,564.98.
In Australia, the ASX 200 ditched 16.33 points, or 0.2%, to 7,426.36.
