Asian stock markets gave up an early leadership on Monday, with Chinese stocks leading the downturn, among concerns about trade…
Asian stock markets gave up an early leadership on Monday, with Chinese stocks leading the downturn, among concerns about trade relations between the US and China and continued weakness in technology on Wall Street.
Down from the beginning of the Shanghai Composite trade
decreased 2.4% and the smaller cap Shenzhen Composite
Hong Kong shares joined regional colleagues who recovered from Friday’s global sales sales, but early out-of-street gains blinked in a few minutes. Reference Index Hang Seng Index
lost 0.2%, after a 1% gain at the open. Chinese real estate developers such as Sino Land
fell over 3% as China Resources Land
1109, + 0.57%
yielded wires of more than 1%.
Index Greater HSBC
0005, + 4.38%
stood out and climbed more than 3% after having posted a 32% increase in the third quarter. Tencent
fell more than 1%, following the road on the benchmark on Friday, driving it to a new 17 month low. Most Chinese car manufacturers listed in Hong Kong were difficult, with Great Wall Motor
reversed a profit of about 0.6% to drop 0.2%. Still, some big companies were under pressure, with Toyota
lower by more than 1%. But Honda
7267, + 0.25%
marginally increased one day before the income statement.
South Korea’s Kospi
dropped close to 1%, with Samsung
005930, + 0.98%
and standout gainer, up 1%.
Australia’s ASX 200
XJO, + 1.11%
ended almost 1%, led by the energy and finance sectors. New Zealand’s benchmark
NZ50GR, + 0.55%
was something up. Reference Index in Taiwan
Y9999, + 0.29%
STI + 0.46%
also reported modest gains.
– Barbara Kollmeyer contributed to this report
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