Shanghai Bund skyline panorama
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Japan’s benchmark Nikkei 225 slid 0.14%, while the Topix added 0.25%. South Korea’s Kospi rose 0.35%, and the small-cap Kosdaq traded 0.45% higher.
Revisions released by Tokyo on Monday show Japan’s economy shrank more sharply between July and September than first estimated. Official data showed that third-quarter GDP fell at an annualized rate of 2.3%, worse than economists’ median forecast of a 2.0% drop and a preliminary reading of a 1.8% decline.
Australia’s ASX/S&P 200 slid 0.17%. Investors will be keeping an eye on the upcoming Reserve Bank of Australia decision as it kicks off its two-day meeting.
India’s Nifty 50 was flat at the open. Shares of IndiGo fell more than 5% after India’s aviation authority warned the carrier on Saturday of potential regulatory action following the airline’s cancellation of thousands of flights last week, leaving passengers stranded.
The cancellations also prompted the government to intervene and curb the spike in airfare prices caused by the disruption. IndiGo, the nation’s largest airline, cited a pilot shortage.
According to a Reuters poll of economists, the Reserve Bank of Australia is expected to maintain its cash rate at 3.60% on Tuesday and keep it there through 2026.
Shares of Moore Threads, a Beijing-based graphics processing unit (GPU) manufacturer, slipped over 5% after soaring by more than 400% on its Shanghai debut last Friday following a $1.1 billion listing. The stock closed at 600.500 yuan, over five times its IPO price of 114.28 yuan.
Last Friday in the U.S, the three major averages closed higher as the market sorted through a fresh slate of U.S. economic releases. The S&P 500 edged higher to secure its fourth straight winning day, closing 0.19% higher at 6,870.40 and putting the index about 0.7% off its intraday record.
The Nasdaq Composite increased 0.31% to settle at 23,578.13, while the Dow Jones Industrial Average climbed 104.05 points, or 0.22%, to end the day at 47,954.99.
— CNBC’s Sean Conlon, Pia Singh and Anniek Bao contributed to this report.
