Tokyo, Japan (BBN)-Markets in Asia were largely lower as investors worried about a possible US rate rise and prospects for global growth.
Positive US jobs numbers released on Friday have boosted expectations the Fed will increase rates at its policy meeting in December, reports BBC.
On Monday, the Organisation for Economic Co-operation and Development (OECD) cut its global growth forecast.
South Korea’s benchmark Kospi index closed down 1.4 per cent at 1,996.59.
In Australia, the S&P/ASX 200 index ended the day 0.4 per cent lower at 5,099.20.
Japan’s benchmark Nikkei index recovered earlier losses to close up 0.15 per cent at 19,671.26 after opening down nearly 1 per cent.
Shares in China were lower after the latest economic data showed consumer inflation slowing again.
China’s consumer price index (CPI) rose 1.3 per cent in October from a year earlier, against expectations for a rise of about 1.5 per cent, and still well below the government’s target of about 3 per cent.
Producer prices index (PPI) numbers for October showed wholesale or factory gate prices had fallen 5.9 per cent from a year ago, slightly more than expectations.
The PPI has fallen for 44 months in a row.
The Shanghai Composite closed down 0.18 per cent at 3,640.49, while Hong Kong’s Hang Seng index finished 1.4 per cent lower at 22,401.70.
Concerns about the state of the world’s second-largest economy were fuelled over the weekend after data showed China’s exports fell for a fourth consecutive month.
A “deeply concerning” slowdown in trade, particularly with China, will lead to lower global economic growth this year, the OECD has said.
The OECD said trade had dropped to levels perilously close to those “associated with global recession”.