Asian markets ended Monday’s session in mixed territories, as investors are still digesting the German and New Zealand elections results.
The German Chancellor Angela Merkel's Christian Democratic Union party looked set to remain the biggest party in the German parliament, Merkel's Christian Democratic Union party, and its sister-party the Christian Social Union won 32.5 percent of the vote. However, Merkel's bloc is expected to form a coalition after achieving a results that came not as good as expected.
Furthermore, the far-right party the alternative for Germany party was expected to enter the Bundestag in around 70 years, with an indicated 13.5 percent of the vote.
Elsewhere in the Pacific, the New Zealand election saw Prime Minister Bill English's National Party win the most votes but came short of securing a majority in the parliament.
Meanwhile, in the greater China, markets ended Monday’s session in negative territories. Hong Kong’s leading index Hang Seng fell by 1.36 percent to trade at 27,500.34, while the Shanghai composite and Shenzhen composite lost 0.33 percent and 1.26 respectively to settle at 3,341.55and 10,930.67.
The Chinese markets fell for the second session after S&P downgraded China's sovereign credit rating from AA- to A+ placing it in line with Moody's and Fitch.
Regarding stock news, property stocks listed in Hong Kong and China took a hit on Monday after new measures were announced to cool the housing market. Average new home prices in China rose 0.2 percent in August from the previous month, compared with a 0.4 percent growth in July.
Hong Kong’s heavyweight China Vanke tumbled by 6.1 percent to trade at 26.12.While China Evergrande Group stock slipped by 8.81 percent to trade at 26.90.
Japan Stock Market (Nikkei 225)
Japan’s leading index Nikkei 225 rose by 0.50 percent to trade at 20,397.58. The index rose on Monday while the yen was weak after news of a possible snap election in Japan as well as a plan by the Japanese Prime Minister Shinzo Abe to compile a nearly $18 billion stimulus package by the end of this year.
Regarding stock news, Toshiba closed losing 0.33 percent. The conglomerate had announced last week that it would sell its memory chip unit to a group led by Bain Capital.
In terms of economic news, the latest survey from Nikkei showed that the manufacturing sector in Japan continued to expand in September, and at a fast rate, with a four-month high manufacturing PMI score of 52.6. Up from 52.2 in August.
Australian Stock Market (ASX 200)
The Australian stock market ended Monday’s session in green territory. ASX 200 rose by 0.03 percent to trade at 5,683.73.
Regarding specific stock news, Premier Investments reported a 1.2 percent increase in full-year profit, while underlying earnings before interest and tax rose by 7.3 percent. The retail group's shares are losing almost 3 percent.
In the banking sector, ANZ Banking gained 0.2 percent while the Commonwealth Bank of Australia lost by 1.06 percent.
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