Stocks markets in Asia-Pacific closed lower on Monday ahead of several central bank meetings this week, with investors expecting policymakers in the US and UK to raise interest rates to tame inflation while Beijing and Tokyo are seen leaving monetary policy unchanged. Hong Kong’s Hang Seng dropped 1% to six-month lows, led by losses in the tech sector; the Shanghai Composite lost 0.4% to a four-month low as US President Joe Biden said US forces would defend Taiwan in the event of a Chinese invasion and as the People’s Bank of China cut its 14-day reverse repo rates; and Australia’s S&P/ASX 200 retreated 0.3%, dragged by energy and tech stocks. Markets in Japan were closed for a holiday.
