Asian stocks mixed after Wall Street

Asia Pacific stocks were mixed on Monday after Wall Street stocks had their worst week of 2023 on Friday. Australia’s S&P/ASX 200 led the region’s losses, trading 1.22% lower. South Korea’s Kospi fell 0.94%, while the Kosdaq rose 0.25%. Chinese stocks were mixed, with the Shenzhen Component up 0.14% and the Shanghai Composite up 0.21%. Hong Kong’s Hang Seng index reversed earlier losses to rise 0.14%, while the Hang Seng Tech index fell 0.26%. Japan’s Nikkei 225 fell 0.18% and the Topix edged higher as Bank of Japan governor-designate Kazuo Ueda is scheduled to address the upper house later in the day. Stocks on Wall Street ended the week sharply lower on Friday, as the Fed’s preferred inflation gauge showed a stronger-than-expected rise in prices last month. The S&P 500 fell 2.7%, its worst week since Dec. 9. The Dow Jones Industrial Average fell nearly 3% this week, its fourth straight week of losses. The Nasdaq Composite closed down 3.3%, its second negative week in three.