After two of the three major U.S. indexes saw losses for a second week in a row due to worries about the country’s debt ceiling and unimpressive economic data, the Asia-Pacific markets are trading mixed.
As the country’s opposition party was on track to win the general election, ending nearly ten years of conservative rule supported by the military, Thailand’s baht appreciated against the US dollar.
On Monday, the country’s Set Composite opened 0.3% higher before reducing gains and closing 0.2% lower. More than anticipated, Thailand’s gross domestic product increased by 2.7% on a yearly basis.
Along with South Korea’s Kospi and Kosdaq, which lost 0.52% and 1.61%, respectively, Australia’s S&P/ASX 200 dropped by 0.17%. On Monday, the Topix and Nikkei 225 both increased by 0.49% and 0.4%, respectively, in Japan.
The Hang Seng index in Hong Kong was slightly lower, while markets on the Chinese mainland were neutral. Shenzhen Component increased by 0.11% while the Shanghai Composite dropped by 0.82%.
