Stocks in Asia edged lower on Monday, defying gains on Wall Street that came after dovish comments from a Federal Reserve official.
Hong Kong’s Hang Seng index fell 0.7 per cent, China’s CSI 300 and Japan’s Topix dropped 0.4 per cent and South Korea’s Kospi retreated 0.2 per cent.
The losses followed gains in the US, with the S&P 500 and Nasdaq Composite adding 0.3 per cent and 0.1 per cent, respectively, after dovish comments from a Fed governor raised hopes for looser monetary policy in 2024.
The remarks by Christopher Waller also pushed the dollar and Treasury yields to multi-month lows.