Stocks in Asia drifted at the start of the week as traders refrained from making riskier bets after lackluster economic data spurred a selloff in Wall Street. The dollar declined against its peers, notably the euro.
European shares declined on Monday following the German elections, as the results indicated mainstream parties lacked the necessary votes to implement fiscal easing and stimulate economic growth. The election of Friedrich Merz as conservative leader adds pressure to swiftly form a government amidst challenges like economic stagnation, the war in Ukraine, and potential US trade conflicts, causing investor concerns about the new administration's fiscal approach.
