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  • Writer's pictureBy The Financial District

Asian Shares Mostly Lower As Wall Street Suffers Worst Week

Most Asian shares traded lower on Monday, with Tokyo being the only major regional market to make gains, following Wall Street's continued losses in its worst week in six months.


Hong Kong's Hang Seng index declined by 1.8% to 17,729.29, while the Shanghai Composite index fell by 0.5% to 3,115.61.



US futures and oil prices saw slight increases, as reported by Elaine Kurtenbach for the Associated Press (AP).


Investor sentiment was weighed down by concerns over China's property sector, a potential US government shutdown, and a strike by auto workers.



Troubled property developer China Evergrande saw its shares plummet by nearly 22% after admitting its inability to raise further debt due to an investigation into one of its affiliates.


This situation poses a threat to its plans to restructure over $300 billion in debt.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Hong Kong's Hang Seng index declined by 1.8% to 17,729.29, while the Shanghai Composite index fell by 0.5% to 3,115.61.


Japan's Nikkei 225, on the other hand, was up by 0.9% at 32,678.62. In Seoul, the Kospi lost 0.5% to 2,495.76, while Australia's S&P/ASX 200 reversed its losses to gain 0.1%, reaching 7,076.50.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

In European markets, Germany's DAX fell by 0.6% to 15,458.86, and the CAC 40 in Paris also dropped by 0.6%, reaching 7,143.79. Britain's FTSE 100 declined by 0.6% to 7,637.55.


The futures for the S&P 500 and the Dow industrials showed a 0.1% increase. On the previous Friday, the S&P 500 declined by 0.2%, while the Dow Jones Industrial Average was down by 0.3%.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

The Nasdaq composite also dipped by 0.1%. Wall Street's sentiment was increasingly bearish, reflecting growing conviction that interest rates are unlikely to decrease significantly in the near future.


On the same Friday, the S&P 500 slipped by 0.2%, while the Dow Jones Industrial Average was off by 0.3%. The ongoing retreat is driven by Wall Street's belief that interest rates are unlikely to see significant decreases in the near term.




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