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Japan's Nikkei index fell over 3% in Monday morning trading as investors sold off technology stocks after a sharp Wall Street decline late last week. The drop was driven by expectations that the Federal Reserve will raise interest rates in July to curb inflation. Asian markets broadly weakened, with Hong Kong's Hang Seng down 2.1% and South Korea's Kospi losing 2.5%.
Toyota Motor Corp. reported a 3.1% year-on-year decline in global sales for April 2026, the third consecutive monthly decrease. Sales dropped by 93,000 vehicles, driven by weakness in Japan and parts of Asia, even as North America and Europe posted gains.
China exported 278,081 electric vehicles in April, up 40% year-on-year, with Asia as the top importing region, despite US and EU tariff barriers. Asia received 110,613 EVs, while Brazil saw the strongest demand growth at 221%.
Bernard Arnault, Chairman and CEO of LVMH, visited a Louis Vuitton store in Seoul’s Shinsegae department store on Monday, marking his first trip to South Korea in three years. The visit underscores the luxury group’s focus on the fast-recovering South Korean market amid a global post-pandemic luxury boom.
