Asia Stock Markets showcased mixed shares on Monday in a cautious mode after the Wall Street closed out the week with a climax as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and NASDAQ hit record heights.
Nikkei 225, Japan’s canon, was up by nearly 0.4% in the morning trading. While Australia’s S&P/ASX 200 fell by 0.6% and South Korea’s Kospi lost a 0.3%. Hong Kong’s Hang Seng added a 1.1% while the Shanghai Composite was also seen up by nearly 0.6%.
Among the individual stocks, the shares of Yahoo Japan’s parent Z Holdings, a majority stakeholder SoftBank, and Line were seen up in Tokyo Trading after the announcement of a merger deal between the internet portal and the country’s chat app. In Hong Kong, Geely Automobile, Wharf Real Estate and AIA Group rose. LG Electronics was seen up in South Korea, while the Westpac WBC slipped in Australia.
“Asia Stock Markets focus this week still lies on the U.S.-China trade talk, and updates in Hong Kong. Hong Kong domestic economy is on the verge of a recession as recent riot has adversely hurt its retail, service, tourism, aviation, education sectors and has caused severe reputational damage to the city as one of Asia’s most important financial hub,” said Margaret Yang Yan, analyst at CMC Markets in Singapore.
Hoping that the Us and China will make progress in their latest push for a trade have also made many of the investors keen on buying a few shares. The S&P, Dow and NASDAQ are now all up by almost 20% for the year.
The traders are now hoping for the two of the world’s biggest and strongest economies to make a deal before any more damaging tariffs take effect in the next month.
The benchmark crude oil CLZ19 added 8 cents to $57.80 a barrel. Then again rose to 95 cents to $57.72 a barrel on Friday.
The dollar USDJPY rose to 108.84 Japanese yen from 108.70 yen Friday.