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Most Asian Stocks fell on Tensions between U.S and China

Most Asian stock markets faced a decline on Monday due to the heightened concerns over the deteriorating Sino-US relations and uncertainty in the US monetary policy.

The Shanghai Shenzhen CSI 300 and Shanghai Composite indexes saw a drop of 1.7% and 1% respectively, while Hong Kong’s Hang Seng index fell by 2.2%. The tech-heavy South Korean and Taiwan stock markets were also impacted, declining by approximately 1% each.

The decline in sentiment towards Asian stocks was exacerbated by the strong payrolls data released on Friday, indicating robust employment in the US. This has raised fears of inflation and the possibility of continued interest rate hikes by the Federal Reserve. Despite the current setback, an eventual economic recovery in China and a pause in the Fed's interest rate hikes is expected to benefit the regional stocks in the long run. Meanwhile, Japanese stocks remained an outlier, with the Nikkei 225 index rising 0.7% due to the expectation of continued monetary policy support from the Bank of Japan. Australia’s ASX 200 index fell by 0.2%, but the shares of gold miner Newcrest Mining Ltd saw a significant increase of 11% following a takeover offer from Newmont Corp.

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