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**Shares in Asia Mostly Lower as Wall Street Suffers Worst Week in Six Months**

In Asian markets, shares were mostly lower on Monday, with Tokyo being the only major regional market to advance. This follows losses in Wall Street, which just had its worst week in six months. However, U.S. futures and oil prices edged higher.

Investor sentiment was negatively impacted by a number of concerns, including the worries over China’s property sector, the U.S. government shutdown, and the ongoing strike by American autoworkers.

Notably, troubled property developer China Evergrande saw its shares sink by 18.2% after announcing its inability to raise further debt. This predicament potentially jeopardizes the company’s plans for restructuring its massive debt totaling over $300 billion.

Hong Kong’s Hang Seng index lost 1.3% to 17,819.52, while the Shanghai Composite index declined by 0.3% to 3,121.78. On the other hand, Japan’s Nikkei 225 managed to gain 0.6% and closed at 32,590.33.

In other Asian markets, Seoul’s Kospi lost 0.6% to 2,492.15, and Australia’s S&P/ASX 200 shed 0.3% and closed at 7,048.00.

Regarding Wall Street, the S&P 500 slipped 0.2% to 4,320.06 on Friday, while the Dow Jones Industrial Average was down 0.3% at 33,963.84. The Nasdaq composite experienced a slight dip of 0.1% to 13,211.81. The ongoing decline on Wall Street reflects the growing realization that interest rates are unlikely to decrease significantly in the near future.

One factor contributing to this pressure on Wall Street is the increase in bond yields, which recently reached their highest levels in over a decade. After several months of continuous rise, yields climbed further this week following indications from the Federal Reserve that they are unlikely to lower their main interest rate as much as investors had hoped by 2024. The current federal funds rate is at its highest since 2001, which adversely affects investment prices by undercutting high inflation.

High interest rates intentionally slow down the economy, leading to a decrease in inflation and weakening prices for investments. However, their full effects take time to materialize and can unexpectedly disrupt various sectors of the economy. Notably, earlier this year, high interest rates played a role in the collapse of three prominent U.S. banks.

Adding to the uneasiness is the possibility of a U.S. federal government shutdown at the end of the month. This would disrupt numerous services, affect workers, and stir up political tensions. Republicans in the House, driven by demands for significant spending cuts, are set to clash with Democrats over federal expenditures, further exacerbating the situation.

Furthermore, American autoworkers expanded their strike against major carmakers late last week, with employees at 38 General Motors and Stellantis parts-distribution centers across 20 states joining the walkout. Although some demands from the United Auto Workers have been met during negotiations over the past week, the strike’s expansion raises concerns about potential inflationary pressures if shortages lead to higher prices.

On a positive note, yields eased slightly on Friday, which helped stabilize the S&P 500 after a 1.6% drop on the previous dayÔÇôits worst performance since March. The yield on the 10-year Treasury fell from 4.50% to 4.44% by the end of Friday, though it remains near its highest level since 2007. The two-year Treasury yield, which is more closely tied to expectations for the Federal Reserve, also dipped slightly to 5.10% from 5.15%.

When bond interest rates increase, investors become less willing to pay high prices for stocks, particularly those considered the most expensive or those that rely on substantial future growth.

This trend has led to specific challenges for big technology stocks. Despite trimming its losses for the week to 5.2% after a 1.4% increase on Friday, Nvidia suffered from the overall decline in the Nasdaq composite, which consists of tech and other high-growth stocks, and experienced its worst week since March, with a decline of 3.6%.

In terms of notable developments in the technology sector, U.K. regulators granted preliminary approval to the restructured $69 billion deal between Microsoft and video game maker Activision Blizzard. If finalized, it would rank among the largest tech deals in history. Consequently, shares of Activision Blizzard rose by 1.7%, while Microsoft fell by 0.8%.

Turning to the oil market, U.S. benchmark crude oil rose by 11 cents to $90.14 per barrel in electronic trading on the New York Mercantile Exchange. This followed a 40 cent increase on Friday. Meanwhile, Brent crude, used as the pricing basis for international trading, saw a rise of 12 cents to $92.08 per barrel.

Finally, in currency markets, the U.S. dollar strengthened slightly to 148.35 Japanese yen from 148.28 yen, while the euro weakened to $1.0650 from $1.0654.

To help navigate the complex legal landscape affected by the situation described above, one tool that could prove invaluable is the AI legalese decoder. This innovative technology utilizes artificial intelligence algorithms to analyze legal documents and contracts, providing concise and easy-to-understand summaries. By using the AI legalese decoder, lawyers and legal professionals can save valuable time and resources by quickly extracting and comprehending important information from complex legal texts. This tool can assist in dealing with matters related to the troubled property developer China Evergrande, navigating the potential consequences of the U.S. government shutdown, and understanding the implications of the strike by American autoworkers on inflation and the economy.

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