Asia-Pacific Markets Mostly Lower Amid Political Uncertainty

On Monday, major stock indices in the Asia-Pacific region experienced mostly downward trends, with South Korea's Kospi leading the decline, dropping by 2.62%.

The downturn was largely attributed to heightened political tensions in South Korea, where a motion to impeach President Yoon Suk-yeol over his imposition of martial law was dismissed due to insufficient votes. Additionally, the defense minister was named a suspect in an insurrection case, and authorities are reportedly considering a travel ban on Yoon.

Elsewhere, China's inflation slowed from 0.3% to 0.2%, adding to the region's economic concerns.

At 7:06 am CET, South Korea's Kospi plummeted 2.62%. Meanwhile, Japan's Nikkei 225 traded 0.08% higher, and Hong Kong's Hang Seng dropped 0.63%. In mainland China, the Shanghai Composite decreased by 0.30%, and the Shenzhen Composite went down by 0.28%. Australia's S&P/ASX 200 closed flat.

The dollar traded flat against the yen at 7:06 am CET, selling for 149.9710.