Asian markets ended Monday’s session on mixed notes, as investors digested a series of earnings reports and the initiation of Donald Trumps tour in the region.
Donald Trump tour in Asian Kicked off, with Japan being his first visit among the five nations on the President’s itinerary. On the president's arrival in Tokyo, Trump issued a verbal warning say that “no dictator” should “ever underestimate American resolve’’. Moreover, Trump is scheduled to visit South Korea, China, Vietnam, and the Philippines.
In greater China, major markets ended the session on mostly higher territories, with the Shanghai Composite adding 0.49 percent to trade at 3,388.17 at the close, while the Shenzhen Composite surged 1.18 percent to end the session at 1,999.30. On the other, in Hong Kong, the Hang Seng index traded at nearly constant levels to edged down by 0.02 percent to trade at 28,596.80 at the close.
Over in South Korea, equities ended the session in red territories, as losses in blue-chip tech stocks pressure prices lower; South Korea’s leading index KOSPI fell by 0.33 percent to settle at 2,549.41 at the close.
Japan (Nikkei 225)
Japan’s Nikkei 255 ended the session slightly higher after a long weekend, on a positive note as gains in automaker stocks led shares higher; Japan’s leading benchmark rose by 0.04 percent to trade at 21-year highs at 22,548.35.
In corporate news, Japans Soft bank saw its share price tumble by 2.6 percent on Monday after its child company Telcos sprinting and T-Mobile called off their merger talks.
Meanwhile, The Bank of Japan released their policy meeting minutes which showed that most of the central bank’s policymakers believe that the BOJ should keep its current policy guidelines.
Australia (ASX 200)
The Australian benchmark ASX200 ended Monday’s session on lower notes as gains in the utilities and technology sectors were offset by losses in the financial sectors; Australia’s Primary benchmark ASX 200 lost 0.10 percent to end the session at 5,953.78 at the close.
In Corporate News, Australia’s Westpac said that cash earnings rose by 3 percent to 6.17 billion dollars for the year, below Reuter forecast of 4 percent rise. Meanwhile, net profit for the period rose by 7 percent to 6.11 billion dollars; the bank saw its share price fall by 2.16 percent on the news.
Energy stocks ended the session in the green as oil price hit highs last seen in 5 years ago, with Oil Search, Origin Energy, Santos and Woodside Petroleum advanced between 0.8 and 1.3 percent.
© Copyright 2017
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.