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  • Ahmed Saleh

Asian stocks decline after Wall Street's challenging week, reports AP.

Hong Kong, January 08, 2024, Major Asian stock markets experienced a retreat on Monday following a challenging week on Wall Street, which marked its worst performance since Halloween, according to the AP. Hong Kong's Hang Seng declined by 2% to 16,152.00, with property and technology shares leading the losses, dropping by 2.4%. The Shanghai Composite index also slipped by 1.3% to 2,891.48.

In South Korea, the Kospi shed 0.4%, reaching 2,567.82, while Australia's S&P/ASX 200 lost 0.5% and settled at 7,451.50. Japanese markets were closed for a holiday.

In the financial realm, the yield on the 10-year Treasury rose slightly to 4.06% early Monday, compared to 4.04% late on Friday.

In commodity markets, US benchmark crude oil experienced a decline of $1.08, reaching $72.73 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, also dropped by $1.08, settling at $77.68 per barrel.

Regarding currency exchange rates, the US dollar decreased to 144.19 Japanese yen from 144.59 yen. Meanwhile, the euro rose slightly to $1.0946 from $1.0941 late on Friday.

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