Asian-Pacific markets fell on Monday while investors estimate the latest economic data from China and Moody’s lowering credit rating of the USA
Hong Kong Hang Seng Index fell by 0.73%, while Chinese CSI 300 dropped by 0.48%.
Japanese reference Nikkei 225 dropped by 0.54%, while Topix lost 0.36%. South Korean Kospa fell by 0.47%, and the masculine with a small market capitalization was traded in 0.77% lower.
The Australian Reference S & P / ASX 200 dropped by 0.15%.
The Central Bank of Australia begins today its two-day meeting, Prneosi SEEbiz.
On Friday, Moody’s Ratings lowered US Secret Credit Rating for a single level with AAA on AA1, citing increasing challenges in the financing of the Federal Budget Definitation and the debt refinancing costs in high interest rates.
With this reduction, Moody’s joined the ranks of other great rating agencies. S & P made the first move in 2011, and Fitch followed an example of 2023, both agencies reduced American rating on AA +.
The latest lowering of Moody’s rating may not be able to make a large sale in the US markets and bonds, as seen from lowering Rating, Menon, the General Manager of the OCBC Investment Strategy.
“However, this increases concern over the growing deficit and the U.S. budget debt, but it is not a novelty and more extensively discusses the last few months, and even years,” he noted.
