Asian stocks fluctuated and the dollar dipped on Monday after U.S. economic data stoked fears of persistent inflation and slower growth. Japan’s Nikkei 225 finished up less than 0.1% at 39,174.25, while Australia’s S&P/ASX 200 slipped 0.2% to 8,537.10. South Korea’s Kospi surged 0.8% to 2,610.42.
Hong Kong’s Hang Seng reversed course, slipping less than 0.1% to 22,616.23, and the Shanghai Composite added 0.3% to 3,355.83. Investors are closely watching President Trump’s economic policies, particularly his stance on trade. Analysts suggest that Trump’s most recent tariff announcement leaves time for potential negotiations between Washington and other countries.
In energy trading, benchmark U.S. crude added 28 cents to $71.02 a barrel, while Brent crude rose 34 cents to $75.08 a barrel.
Asian markets respond to U.S. data
The U.S. dollar declined to 151.90 Japanese yen from 152.25 yen, and the euro decreased to $1.0472 from $1.0495.
The mixed performance in Asia-Pacific markets followed Wall Street’s worst session of the year last Friday, as fresh data raised concerns about the U.S. economy. The Dow Jones Industrial Average lost 748.63 points, or 1.69%, to close at 43,428.02, marking its worst session of the year. The S&P 500 slid 1.71% to end at 6,013.13, while the Nasdaq Composite dropped 2.2%, settling at 19,524.01.
In Singapore, core inflation edged up 0.8% year-on-year in January, the lowest reading since June 2021 and below the 1.5% forecast by a Reuters poll. Headline inflation came in at 1.2% year-on-year, its lowest since February 2021 and also below the 2.15% estimated by Reuters. Agri-business company Olam Group saw its shares surge as much as 8.85% after announcing the sale of its remaining 64.57% stake in Olam Agri to Saudi Agriculture & Livestock Investment (Salic).
Meanwhile, Australia’s Perpetual saw its shares slide 3.62% Monday as it terminated talks with KKR on the sale of its wealth management arm and corporate trust units.
