Asia-Pacific stocks slip as China data, US credit downgrade weigh on sentiment

Asia-Pacific markets edged lower on Monday as investors reacted to softer economic data from China and a downgrade to the US credit rating by Moody’s.

Hong Kong’s Hang Seng dipped 0.05 per cent to 23,332.72, while the mainland’s CSI 300 index lost 0.48 per cent.

In Japan, the Nikkei 225 dropped 0.68 per cent to 37,498.63, with the broader Topix index slipping 0.08 per cent to 2,738.39. Australia’s S&P/ASX 200 retreated 0.58 per cent, closing at 8,295.1.

South Korean shares also declined, with the Kospi falling 0.89 per cent to 2,603.42 and the tech-heavy Kosdaq down 1.56 per cent to 713.75.

Investors remain cautious as signs of slowing Chinese demand and the potential impact of the US credit downgrade add to broader concerns about global growth.

Attribution: CNBC

Subediting: Y.Yasser