Market Volatility Expected as BOJ Decision and South Korea Inflation Awaited
Asia-Pacific markets started the week mixed as investors awaited key economic data, including monetary policy decisions from Japan and Malaysia, inflation data from South Korea, and GDP figures from Taiwan and Hong Kong. Japan's Nikkei 225 and Topix slid ahead of the Bank of Japan's two-day policy meeting, while South Korea's Kospi and Kosdaq saw gains. Australia's S&P/ASX 200 slipped due to a faster-than-expected rise in retail sales. In the US, all three major indexes ended mixed, with the S&P 500 entering correction territory. The World Trade Organization's director-general warned that global growth would be impacted if the Israel-Hamas conflict spreads to the broader Middle East region. Japan's 10-year bond yield edged closer to an 11-year high as the BOJ meeting began. Australia's retail sales posted a surprise jump in September. A tech veteran highlighted the value of Chinese tech giants despite regulatory clampdowns. The Dow Jones Industrial Average closed lower, and the S&P 500 entered correction territory. Inflation expectations surged in October, and Bitcoin is heading for its best week since June but could face a test at the Federal Reserve Open Market Committee meeting.