The Asian markets ended Monday trading session mixedly after sharp fluctuations.
The Japanese index Nikkei 225 declined by 1.32% to 22 380.99 points, which is the lowest closing level since October 31 and fourth consecutive session of decline. The financial and technological companies reported the largest declines, while the energy sector was mixed. JXTG Holding added 1.69% to its value, while Inpex shares declined by 1.66%.
On the Korean peninsula, Kospi index reported a decline of 0.5% to 2,530.35 points, with the growth of car manufacturers and cosmetics companies being overshadowed by the strong downturn in the industrial sector. The market capitalization of Amorepacific rose by 0.62%, Hyundai Motor rose by 3.88%, while Samsung Heavy declined by 2.78%.
The Australian ASX 200 wiped out 0.13% to 6,021.77 points, with moderate declines in the financial sub-index, which reported a decline of 0.53%.
In China, trade was positive and indexes rose – Hong Kong’s index Hang Seng rose by 0.21%, Shanghai Composite added 0.47% and Shenzhen Composite rose by 0.30%.
The banking stocks rose on Monday after China’s announcement last week to ease the rules on foreign ownership in the financial sector. The ICBC’s shares rose by 2.41% and Merchants Bank increased its market capitalization by 2.14%.
The 10-member Association of Southeast Asian Nations (ASEAN) and Hong Kong (Special Administrative Region of Sichan, China) signed a free trade agreement in Manila on Sunday (November 12th). Hong Kong and ASEAN’s total trade for the past year amounted to 833 billion HKD (107 billion USD), and for services in 2015 the sum was 121 billion HKD (16 billion USD).
The document removes customs, technical and sanitary barriers between countries to increase bilateral trade volumes.
On a corporate level, the Chinese online giant Alibaba said that sales on Singles’ Day (November 11) reached 25.4 billion USD, breaking the record from last year and confirming the event as the world’s biggest shopping.
Oil prices also remained stable with futures on US light crude oil rising slightly by 0.07% to 56.78 USD per barrel, while those on the Brent oil remained unchanged at 63.52 USD per barrel.