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Asian markets

Asian markets were trading mixed on Monday

Asian markets were trading mixed on Monday, with investors focusing primarily on the US Senate adoption of the draft on tax reform law.

In Australia, the S&P ASX 200 index ended slightly down to 5,985.59 points after the financial sub-index dropped by 0.62%. The shares of banks from the so-called “Big Four” ended in red. The stocks of ANZ declined by 1.01%, while the market capitalization of Commonwealth Bank decreased by 0.32%, Westpac by 1.24% and National Australia Bank by 0.51%.

The Japanese benchmark Nikkei 225 declined by 111.887 points, or 0.49%, to 22,707.16 points, while the smaller Topix wiped out 9.66 points, or 0.54%, to 1,786.87 points.

In South Korea, the index Kospi did not follow the other stock exchanges in the region and closed with an increase of 26.26 points, or 1.06%, to 2,501.67 points.

The Chinese continental markets have failed to establish a steady direction during the session. The Shanghai Composite index closed down by 7.24 points, or 0.22%, to 3,310.36 points, while the smaller Shenzhen Composite index wiped out 13.89 points, or 0.72%, to 1,902.91 points.

In Hong Kong, the benchmark Hang Seng reversed earlier losses and rose by 0.6%.

In the forex markets, the dollar index rose to 93,172 points. Among the other leading currencies, the Japanese yen fell against the dollar.

Despite the relative weakness of the yen, some of the major exporters remained under pressure. The shares of Toyota fell by 0.61% and the market capitalization of Mitsubishi Electric dropped by 0.78%. However, Sony’s stocks rose by 1.44% and Nissan by 0.18%.

On the corporate front, the Hong Kong’s Wanda Hotel Development expanded by 11.19%. The company said that 65.04% of its issued shares would be transferred to a new holding company – Wanda Investment Holding – which would be wholly owned by founder billionaire Wang Jianlin. The shares will be transferred at a price of 1.20 HKD (0.15 USD) per share as part of the proposed reorganization of a company.

About Viliyana Filipova

Viliyana Filipova is 27 year-old girl from Varna, Bulgaria. She is founder and Chief Editor of Finance Apprise Journal, working also as analyzer on the world finance and commodity markets.

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