Asia report: Markets mixed on another quiet news day
Markets in Asia bobbed above and below the line for much of the session on Monday, closing mixed after traders carried negative sentiment over from Wall Street’s session on Friday.
In Japan, the Nikkei 225 lost 1.32% to close at 22,380.99 - its fourth straight loss - as the yen strengthened 0.15% against the dollar to last trade at JPY 113.36.
Financial plays, technology firms and trading houses were the big losers in Tokyo, although there were some rays of sunshine in the energy sector.
Inpex was down 1.66%, but JXTG Holding managed to add 1.69% by the end of the session.
App-based minicab firm Uber was just around the corner from reaching an agreement to sell a chunk of at least 14% to Tokyo-listed SoftBank, according to a New York Times report.
SoftBank stock finished Monday’s session down 0.3%.
On the mainland, the Shanghai Composite added 0.47% to 3,448.68, and the smaller, technology-heavy Shenzhen Composite was ahead 0.3% at 2,045.18.
Banking stocks were ahead in China, following news late last week that Beijing would be scaling back strict foreign ownership rules for the financial industry.
ICBC finished the session ahead 2.41%, and Merchants Bank added 2.14%.
Chinese e-commerce behemoth Alibaba celebrated a bumper Singles’ Day, reporting $25bn in sales on 11 November, well ahead of the $17.8bn last year.
South Korea’s Kospi was 0.5% softer at 2,530.35, while the Hang Seng Index in Hong Kong was 0.21% firmer at 29,182.18.
Carmakers and cosmetics producers were higher in Seoul, but they were overshadowed by declines in manufacturing plays.
Amorepacific was ahead 0.62% and Hyundai Motor added 3.88%, while Samsung Heavy lost 2.78%.
High on the agenda was news that 11 nations have agreed “core elements” of the Trans-Pacific Partnership Agreement (TPPA) - a previously US-led trade push that president Trump pulled his country out of earlier this year.
Japan was now leading the discussions.
Oil prices remained mixed but relatively steady, with Brent crude last down 0.06% at $63.48 per barrel and West Texas Intermediate ahead 0.11% at $56.80.
In Australia, the S&P/ASX 200 was off 0.13% at 6,021.77, dragged down by the hefty financials subindex, which closed down 0.53%.
Across the Tasman Sea, New Zealand’s S&P/NZX 50 added 0.03% to 7,976.43, led higher by A2 Milk, which was ahead 3.9% after it flagged that its stellar growth had continued into the current financial year at an investor conference.
Both of the down under dollars were weaker, with the Aussie last off 0.14% at AUD 1.3072 against the greenback, and the Kiwi retreating 0.26% to NZD 1.4466.