Posted 10/16/2023, 2:35:00 AM
Asian Stocks Decline as Middle East Tensions Weigh; Nikkei Drops on Profit Taking
- Asian stocks mostly lower on Monday amid Middle East tensions and profit taking in Japan
- Nikkei drops 1.9% as investors lock in profits after recent rally; tech stocks hit hard
- Markets cautious ahead of Japanese CPI data this week for signs of persistent inflation
- Chinese stocks subdued before Q3 GDP and PBOC rate decision later this week
- PBOC expected to cut rates further this year despite lifting of COVID curbs, per state media
