Asia-Pacific markets are mixed as investors look toward inflation data from across the region this week.
Singapore and Australia are expected to report inflation figures for August this week, while Japan will release inflation data for the Tokyo region. The capital region's inflation data is seen as a leading indicator of nationwide trends.
In Australia, the S&P/ASX 200 rose 0.11%, reversing earlier losses and ending at 7,076.5.
Japan's Nikkei 225 climbed 0.85% and the Topix was up 0.39%, rebounding from losses last week and closing at 32,678.62 and 2,385.5 respectively.
South Korea's Kospi slid 0.49%, closing at 2,495.76 and the Kosdaq tumbled 2.12%, finishing at 839.17 and marking a seven-day losing streak.
Hong Kong's Hang Seng index slipped 1.65% in its final hour of trade, with mainland Chinese markets also in negative territory. The benchmark CSI 300 was down 0.65% and ended at 3,714.6.
On Friday in the U.S., all three major indexes notched a fourth straight day of losses as investors continued to grapple with signals from the Federal Reserve that it intended to keep interest rates higher for longer, with the S&P 500 and the Nasdaq Composite notching their worst weeks since March.
— CNBC's Yun Li and Alex Harring contributed to this report.
Singapore's core inflation rate slows to 3.4% in August, lowest since April 2022
Singapore's core consumer price index climbed 3.4% in August from a year ago, its lowest rate of increase since April 2022's figure of 3.3%.
This is also the fourth straight month that the country's core inflation rate has slowed. The figure also came in lower than the 3.5% expected by economists polled by Reuters.
The core inflation rate, also known as the MAS core inflation measure, strips out prices of accommodation and private transport.
The headline inflation rate also slowed to 4%, in line with expectations and its lowest level since January 2022.
— Lim Hui Jie
Japan sole gainer in Asia, led by health and retail stocks
Japanese markets were the sole gainer among major Asian markets on Monday, with both the Nikkei 225 and Topix in positive territory amid a broader sell-off.
The Nikkei gained 0.88%, while the Topix was up 0.41%. According to FactSet data, the gains are led by health technology and retail trade stocks.
— Lim Hui Jie
Evergrande delays debt restructuring meetings with creditors, shares tumble
Shares of embattled Chinese real estate firm Evergrande tumbled about 20% after the company said over the weekend that it would delay a debt restructuring meeting due Monday.
As such, Evergrande "considers it necessary to re-assess the terms of the proposed restructuring to meet the company's objective situation and the demand of the creditors."
On Sunday, the company also revealed that due to an investigation into subsidary Hengda Real Estate it was unable to issue new notes under its debt restructuring plan.
Reuters reported the Evergrande unit was being probed by the Chinese securities regulator for suspected violation of information disclosure.
— Lim Hui Jie
CNBC Pro: China’s cutthroat competition hasn’t been lost with the slowdown. EV companies fighting to win
It's been a busy several days for consumer product launches in China, with Apple beginning iPhone 15 deliveries and electric car company Nio launching its smartphone.
Why is Nio getting into phones and how does it stack up against the competition?
CNBC Pro: This chip stock has a ‘50% margin’ which competitors could ‘struggle to catch up with’, analyst says
Portfolio manager Kamil Dimmich of North of South Capital says the word on the ground is that stocks in technology firm Nvidia are cheap – even as he may personally not think so.
Shares in Nvidia tripled this year as the company's market valued topped $1 trillion over the optimism surrounding its artificial intelligence-powered applications.
Dimmich, who manages the $1.5 billion Pacific North of South Emerging Market All Cap Equity fund, says he is "always looking for great companies with strong cashflows that are not correctly reflected in the market." His focus is identifying undervalued stocks in emerging markets.
What is his list of 'great value' companies to watch?
— Amala Balakrishner
Dollar Index on pace for 10th weekly gain in a row
The Dollar Index remained positive this morning after spiking to a high of $105.78, its highest level since March 8. For the week, the DXY is up 0.14%, on pace for its 10th weekly gain in a row.
— Yun Li, Nick Wells
CNBC Pro: Goldman expects 'healthy' growth at these 3 Indian banking stocks – giving one nearly 50% upside
Goldman Sachs has forecast "healthy" growth in new lending at three major Indian banks over the next six months, which could lead to a significant upside for those stocks.
The Wall Street bank said Indian bank stocks have underperformed over the past three to six months despite a positive outlook for lending growth in the sector.
It named three lenders, that are expected to outperform the sector over the next 12 months, as "Top Buys".
— Ganesh Rao
October has historically brought reprieves after August and September slumps
A tough August and September can give way to a strong October for stocks, historical data shows.
The S&P 500 is on track to end September nearly 4% lower, extending losses after dropping 1.8% in August. But after the index has ended at least 1% lower in both August and September, it has finished October up nine of the past 10 times, according to Ryan Detrick, chief market strategist at Carson Group.
And the past three instances show sizable legs up. In 2022, October brought an 8% rally following the sides in the two prior months. October 2015 saw an 8.3% climb, while the index jumped 10.8% in October 2011.
"As bad as things feel, don't lose faith just yet," Detrick wrote on X, formerly known as Twitter.
— Alex Harring
San Francisco Fed's Daly unsure of where rates should go from here
San Francisco Fed President Mary Daly noted that more data is still needed to determine whether the central bank needs to further tighten monetary policy.
"The thing that would be a problem is if we decided that we wanted to call it done we'd say we're done, we say definitely one more, when we actually don't know," Daly said in an event. "Patience is a prudent strategy."
— Fred Imbert
JPMorgan says oil can hit as high as $150 a barrel
The latest surge in oil prices may have a lot further to run, according to JPMorgan.
Analyst Christyan Malek upgraded the entire global energy sector to an overweight rating in a research note on Friday, saying that an energy "supercycle" could eventually drive up Brent crude prices as high as $150 a barrel.
Read more on JPMorgan's outlook for the oil industry here.
— Samantha Subin
U.S., Eurozone central banks near the end in rate hike paths, says Citi
The U.S. and Eurozone central banks are very close to being done with their hiking cycles, according to Citi, amid a stronger-than-expected U.S. economy and a weaker European economy. The bank has lowered its GDP outlook for the Eurozone accordingly.
"From a central bank cycle point of view, duration is attractive as rate hiking cycles are coming to a quick end. Valuation is also interesting, especially in the US," analyst Dirk Willer said in a Thursday note.
"However, central banks have not been given the all clear yet, as either growth is still surprisingly strong (the US), or inflation surprisingly stubborn (EU, UK). And quickly rising oil prices are typically a strong headwind for duration," he added.
The analyst remains long on the "cheap cyclical" Latin American market, while shorting the defensive U.K. market, which he believes should benefit from a weaker Pound.
— Hakyung Kim