Today's trading session showed mixed data in the Asia region and the United States (US) as investors tried to digest the Federal Reserve's (Fed) hawkish speech at the Jackson Hole Symposium.
Generally the market now expects the Fed to implement aggressive interest rate hikes during the September meeting with Jerome Powell hawkish to curb inflation that is at a 40-year high.
Rodrigo Catril from National Australia Bank explained in his note that investors are digesting the impact of Powell's speech, which emphasized the need for higher rate hikes to bring inflation 'down to earth'.
A string of Asian equity markets showed a positive opening after yesterday's sharp decline.
Japan's Nikkei 225 index rose 0.78%, Topix reached 0.85% while South Korea's Kospi added 0.85% and Kosdaq climbed 1.09%.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.22%.
On the other hand, conditions on Wall Street saw most indices remain in the red during the closing session which indirectly extended last week's losses.
The S&P 500 index was down 0.67% at 4,030.61, the Nasdaq Composite lost 1.02% at 12,017.67 and the Dow Jones Industrial was down 0.57% at 32,098.99.
European shares fell to a 5-week low of 0.8% and MSCI's gauge of worldwide shares fell to a 1-month low of 1%.
Currency flows saw the greenback strengthen to a new 2-decade high of 109.48 for a while against other currencies.
The US 2-year yield was up around 3.49% and well above the 10-year yield at 3.11%, the highest since 2007.
For commodities, OPEC+ speculation about production cuts sent US crude up 4% at $96.82 and Brent up 3.7% at $104.77.
