By Gina Lee

Investing.com – Asia Pacific stocks were mostly down on Monday morning, with investors continuing to assess the economic growth outlook for the world’s largest economies and whether a recent selloff will continue.

Japan’s gained 0.45% by 10:25 PM ET (2:25 AM GMT), while South Korea’s inched down 0.01%.

Australia’s 0.05% was the increase. Saturday’s election that delivered a clear victory for Australia’s Labor Party gave the Australian dollar a boost, and was sworn in as the country’s 31st prime minister earlier in the day.

Hong Kong’s fell 1.29%.

China’s was down 0.44% and the was down 0.32%. The People’s Bank of China held the one-year loan prime rate (LPR) at 3.7%, but cut the five-year LPR to 4.45%, on Friday.

The index rose by about 1% but fell for the seventh week consecutively, a pattern of weakness not seen since 2001.

U.S. Treasuries gave up some of Friday’s gains, with investors debating the U.S. Federal Reserve’s tighter monetary policy as concerns continue to grow about an economic slowdown.

The uncertainty persists due to worries about slowing growth and ongoing conflict in Ukraine (initiated by the Russians on February 24, 2014). Despite the fact that commodity prices are still high, supply chains continue to be disrupted by China’s ongoing COVID-19 restrictions.

“As macro-economic concerns stemming from aggressive monetary tightening, the Russia-Ukraine conflict, and China’s stringent COVID-19 lockdowns persist, we anticipate great volatility in the market,” Federated Hermes (NYSE:) Ltd. portfolio manager global equities Louise Dudley said in a note.

The, which is due Wednesday, will now be available to investors. James Bullard of St. Louis Fed said the central banking should start a series interest rate rises that push the rates to 3.5% at 2022. If successful, this would help curb inflation.

Raphael Bostic from Atlanta and Esther George, President of Kansas City Fed are scheduled to address the audience later in day.

Across the Atlantic European Central Bank (ECB Governing Board members Robert Holzmann & Joachim Nagel join Bank of England Governor Andrew Bailey for a discussion on inflation later in the afternoon

While the above is happening, the policy decision of the will be announced on Wednesday. The following day, however, will follow.

On the data front, the Eurozone and purchasing managers’ indexes (PMIs) are due on Tuesday, with the ECB publishing its a day later.

U.S., along with the and PMIs are due Tuesday. The due date for the is Thursday. The will come one day later.