Pedestrians are reflected in a window as they walk past an electronic stock board at the ASX Ltd. clearinghouse. in Sydney, Australia on Thursday, February 14, 2019.
David Moir | Bloomberg | Getty Images
SINGAPORE – Asia-Pacific markets traded mixed on Monday, with investors keeping tabs on the coronavirus pandemic and rising interest rates in the United States
In South Korea, the Kospi index fell 1.02% while the Kosdaq was down 1.28%.
Mainland Chinese stocks fell, with the Shanghai Composite Index down 0.42% and the Shenzhen component down 0.23%.
Australia’s benchmark ASX 200 traded down 0.04%, after recovering some of its earlier losses. The heavily weighted financial sub-index slipped 0.2%, but the energy and materials indices rose 1.18% and 1.63%, respectively.
Shares of major miners rose: Rio Tinto added 2.78%, Fortescue rose 2.65%, and BHP added 2.36%.
Hong Kong’s Hang Seng index resisted the general downtrend and rose 0.8% while Taiwan’s Taiex rose 0.23%.
China Life Insurance shares in Hong Kong fell 1.93%, recovering from earlier losses of more than 2.3%. Reuters reported that China’s Central Commission for Discipline Inspection said on Saturday it had placed China Life chairman Wang Bin under investigation. The company’s Shanghai-listed shares fell more than 2%.
Shares of Shimao Group rose 5.11%. This follows a report by Caixin that the cash-strapped company has put all of its real estate projects up for sale, including residential and commercial properties, according to Reuters.
Japanese markets are closed for a public holiday.
Monday’s session followed a mixed session in Asia on Friday while in the United States, the top three stock averages all fell.
The 10-year Treasury yield hit 1.8% on Friday after the release of the December non-farm wage report, where 199,000 jobs were created for the month. This is significantly lower than market expectations for 422,000 jobs.
Last week, the minutes of the US Federal Reserve’s December meeting indicated that officials were prepared to aggressively reduce political support. He showed that the central bank is considering reducing its balance sheet in addition to raising interest rates.
Elsewhere, Covid cases have continued to increase sharply around the world following the emergence of the highly transmissible variant of omicron. Places like the United States, Australia and the United Kingdom have reported record numbers of cases in recent weeks.
“Early studies indicate that while Omicron is much more infectious than Delta, it is fortunately less likely to cause hospitalizations, and booster vaccines further reduce the risk of hospitalization,” ANZ Research analysts said in a note. morning.
“Sadly, as pandemic-induced supply shortages continue to proliferate, it is clear that the inflation roller coaster is not over,” they added.
Currencies and oil
In the currency market, the The dollar index traded up 0.09% to 95.802 against a basket of its peers.
The Japanese yen changed hands at 115.62 per dollar while the Australian dollar traded 0.11% to $ 0.7186.
Oil prices fell during trading hours in Asia on Monday: US crude fell 0.44% to $ 78.55 a barrel.
“Geopolitical tensions are expected to impact commodity markets this week,” analysts from ANZ Research said. “Gas markets are on edge as tensions remain high in Ukraine, while unrest in Kazakhstan threatens the supply of key metals.”