Asian shares showed a mixed performance on Monday as investors awaited further signals on potential interest rate cuts by the Federal Reserve. Japan's Nikkei 225 declined by 0.7% to 40,619.40, with investors opting to sell shares to secure profits following recent record highs. Meanwhile, Hong Kong’s Hang Seng index rose by 0.5% to 16,584.22, and the Shanghai Composite gained 0.4% to reach 3,061.36. The Chinese yuan dropped to a four-month low of 7.2282 against the U.S. dollar.
Australia's S&P/ASX 200 index increased by 0.6% to 7,813.70, while South Korea's Kospi fell by 0.5% to 2,735.46. Concerns were raised by a Japanese finance official regarding the recent surge of the U.S. dollar against the Japanese yen, leading to speculation about potential market intervention. The dollar was trading at 151.13 yen on Monday, up from 151.41 yen, while the euro rose to $1.0814 from $1.0810.
