Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Sept. 25, 2023. Shares in Asia were mostly lower on Monday, with Tokyo the only major regional market to advance, after Wall Street wheezed to more losses with its worst week in six months.
Hong Kong's Hang Seng lost 1.3% to 17,819.52, while the Shanghai Composite index declined 0.3% to 3,121.78.In Seoul, the Kospi lost 0.6% to 2,492.15, while Australia's S&P/ASX 200 shed 0.3% to 7,048.00. High rates drag down inflation by intentionally slowing the economy and denting prices for investments. They also are slow to take full effect and can cause damage in unexpected, far-ranging corners of the economy. Earlier this year, high rates helped lead to three high-profile collapses of U.S. banks.at the month’s end that would disrupt many services, squeeze workers and roil politics.
The two-year Treasury yield, which moves more closely with expectations for the Fed, dipped to 5.10% from 5.15%.
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