S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The Nikkei 225 Index dropped 1.4% to below 65,500 while the broader Topix Index fell 0.9% to 4,110 on Monday, giving back last week’s gains as hawkish remarks from Federal Reserve Chair Kevin Warsh revived expectations for a US rate hike in September. In his Jackson Hole address on Friday, Warsh warned that inflation is not slowing significantly and reiterated the Fed’s commitment to returning inflation to its 2% goal, while noting that financial conditions are not currently restrictive. Sentiment was also pressured by a jump in oil prices after the US military targeted Iranian rocket launchers preparing to deploy mines into the Strait of Hormuz. Domestically, data showed Japan’s industrial output unexpectedly increased in July, while retail sales growth exceeded forecasts. Technology stocks led the decline, with Advantest (-6%), Terra Drone (-15%), SoftBank Group (-3.3%), Tokyo Electron (-3%) and Ibiden Co (-3.6%) posting sharp losses.
