Shares in the Asia-Pacific region slid on Monday, retreating from over three-week highs as investors’ investor sentiment was dampened by concerns about a worldwide economic slowdown.
As of 9.28 hrs. local time in Thailand, the Nikkei 225 in Japan slipped 0.78% and the Hang Seng index in Hong Kong lost 0.81%.
The S&P/ASX 200 in Australia and the Kospi in South Korea both remained near their previous closing levels.
Mainland China markets were also lower. The Shanghai Composite slipped 0.31%, and the Shenzhen Component was 0.20% down.
The U.S. Federal Reserve will be meeting this week, and the country’s second-quarter GDP data is due on Thursday.
Meanwhile, Singapore’s inflation data is scheduled to be announced on Monday. Consumer prices are expected to rise by 4.2% in June, according to economists polled by Reuters.
The World Health Organization declared monkeypox a worldwide health emergency over the weekend. The WHO’s emergency committee was unable to come to an agreement, but WHO chief Tedros Adhanom Ghebreyesus made the decision to issue the highest alert, even though he stated it is unlikely to impact global trade or travel at the moment.
“Although I am declaring a public health emergency of international concern, for the moment this is an outbreak that is concentrated among men who have sex with men, especially those with multiple sexual partners,” Tedros said on Saturday