Asia report: Markets mixed as Japan data beats forecasts

Markets in Asia finished mixed on Monday, with Japanese stocks rising as exports in the country fell less than anticipated in September.

The country’s benchmark Nikkei 225 added 0.29% to 17,234.42, with the yen trading stronger against the greenback as well.

It began to slip slightly as the country went to bed, and was last 0.08% weaker at JPY 103.88 per $1.

Fresh data from Tokyo showed exports fell 6.9% year-on-year in September - a narrower fall than the 10.4% anticipated in a Reuters-polled forecast.

Export volumes rose 4.7% in the 12 months to September, with imports dropping 16.3% year-on-year.

The preliminary Markit/Nikkei October PMI was more positive, with the reading rising to 51.7 from 50.4 last month.

That was reportedly the fastest expansion in nine months.

Video games giant Nintendo was down 4.82%, extending losses of more than 6% on Friday as investors voiced their disapproval of its upcoming Switch console product.

Nintendo is also set to make an earnings announcement this week.

On the mainland, the Shanghai Composite added 1.21% to 3,128.40, while the Shenzhen Composite rose 0.86% to 2,070.20.

South Korea’s Kospi closed up 0.73% to 2,047.74, while Hong Kong’s Hang Seng Index was up 0.98% to 23,604.08.

In Seoul, shares in Samsung Electronics were up 1.2% in anticipation of its third quarter earnings, due on Thursday.

The technology giant had been forced to revise its profit guidance downwards in recent weeks, following the PR disaster that was its flagship Galaxy Note 7 smartphone and its ability to spontaneously combust.

Also on the peninsula, it was reported Hanjin Shipping will shutter all 10 of its European operations.

It followed the news in August that the shipping line had to file for corporate receivership after its banks and financial backers cut off financial support.

Shares in Hanjin were down 11.84% on Monday.

Oil prices were lower during Asian trading, after Iraq confirmed it would not be a part of any OPEC production cut.

They were mixed as Europe took the trading baton, however, with Brent crude last up 0.12% at $51.84 per barrel and West Texas Intermediate down 0.12% at $50.79.

In Australia, the S&P/ASX 200 closed 0.4% lower at 5,408.50, with most subindexes finishing the day below the line.

On the weighty financial subindex, the big four regional banks had a mixed performance, with Australia and New Zealand Banking Group up 0.28%, Commonwealth Bank of Australia down 0.31%, National Australia Bank losing 0.4% and Westpac adding 0.46%.

Energy plays were lower due to the muted oil price during Asian trading, with Oil Search down 1.97%, Santos off 2.86% and Woodside Petroleum losing 1.06%.

New Zealand’s share markets were closed on Monday for that country’s Labour Day public holiday.

The down under dollars were both stronger on the greenback, with the Aussie last 0.41% ahead at AUD 1.3091 and the Kiwi strengthening 0.11% to NZD 1.3945 per $1.