Asian stocks were seen swinging in between gains and losses on the first day of the trading week with shares in China trading higher on speculation that the government will boost equities.
Japan’s benchmark Nikkei index lost 0.35% closing at 14,149.52 points, while Tokyo’s Topix index dropped 0.65%, ending the session at 1,157.91 points after reports from the country’s current account surplus narrowed to 116.4 billion yen in March from 612.7 billion yen in February, while analysts’ forecasted a surplus of 347.7 billion.
The nation’s currency slid 0.1% lower against the greenback on Monday. The Japanese Economy Watchers Current Condition Index dropped to 41.6 in April from 57.9 in March, dragged lower by the sales tax hike. While the economic outlook index climbed to 50.3 in April, picking up from 34.7 recorded in March.
Hong Kong’s Hang Seng index surged 2.19% to 22,290.15 points at the time of writing, while the mainland Chinese benchmark Shanghai Composite soared 1.90% to 2,049.80 points at the same time.
China’s President Xi Jinping said the nation’s growth fundamentals haven’t changed and needs to adjust to the slow pace of growth.
“Our country’s capital markets have developed very rapidly over the last 20 years, and we have nascent market systems to cover stocks, bonds and futures. Our nation’s capital markets are still immature and some organizational and systematic problems still exist,” the State Council said in the statement.
The South Korean Kospi index rose 0.43%, closing at 1,964.94 points, while Australia’s benchmark S&P/ASX 200 index lost 0.25%, ending the session at 5,447.40 points.
Australia’s largest provider of workforce solutions, Skilled Group saw the most gains, rising to 5.20%, while steelmaker Arrium lost 4.34%.
Stocks – Europe
European stocks were trading mixed on Monday as the crises in Ukraine continue to remain in focus. The European Euro Stoxx 50 rose 0.01% higher to 3,184 at the time of writing, while the German DAX gained 0.18%, trading at 9,599.24. Meanwhile, the French CAC 40 slid 0.23% to 4,466.87, while UK’s benchmark FTSE 100 climbed 0.24% to 6,831.02.
Ukraine
As clashes in the eastern region of Ukraine continued over the weekend, pro-Russian separatists’ leaders in the country’s eastern region of Donetsk declared victory in Sunday’s referendum to leave Ukraine, with almost 90% votes in favor. Leaders from the Western nations said the referendum was illegal and will not recognize the vote and results.
“Events in Ukraine are likely to once again cast a shadow over financial markets this week, as the risk of further civil unrest looks set to rise in the wake of the weekend referendums in Donetsk and Luhansk, which went ahead despite a request from Russian Vladimir Putin to postpone them last week,” chief market analyst at CMC Markets Michael Hewson said in a note.
Officials from the European Union are expected to meet in Brussels later in the day to discuss further sanctions on companies and individuals associated with the crises in Ukraine.
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Stocks – Asia
Asian stocks were seen swinging in between gains and losses on the first day of the trading week with shares in China trading higher on speculation that the government will boost equities.
Japan’s benchmark Nikkei index lost 0.35% closing at 14,149.52 points, while Tokyo’s Topix index dropped 0.65%, ending the session at 1,157.91 points after reports from the country’s current account surplus narrowed to 116.4 billion yen in March from 612.7 billion yen in February, while analysts’ forecasted a surplus of 347.7 billion.
The nation’s currency slid 0.1% lower against the greenback on Monday. The Japanese Economy Watchers Current Condition Index dropped to 41.6 in April from 57.9 in March, dragged lower by the sales tax hike. While the economic outlook index climbed to 50.3 in April, picking up from 34.7 recorded in March.
Hong Kong’s Hang Seng index surged 2.19% to 22,290.15 points at the time of writing, while the mainland Chinese benchmark Shanghai Composite soared 1.90% to 2,049.80 points at the same time.
China’s President Xi Jinping said the nation’s growth fundamentals haven’t changed and needs to adjust to the slow pace of growth.
“Our country’s capital markets have developed very rapidly over the last 20 years, and we have nascent market systems to cover stocks, bonds and futures. Our nation’s capital markets are still immature and some organizational and systematic problems still exist,” the State Council said in the statement.
The South Korean Kospi index rose 0.43%, closing at 1,964.94 points, while Australia’s benchmark S&P/ASX 200 index lost 0.25%, ending the session at 5,447.40 points.
Australia’s largest provider of workforce solutions, Skilled Group saw the most gains, rising to 5.20%, while steelmaker Arrium lost 4.34%.
Stocks – Europe
European stocks were trading mixed on Monday as the crises in Ukraine continue to remain in focus. The European Euro Stoxx 50 rose 0.01% higher to 3,184 at the time of writing, while the German DAX gained 0.18%, trading at 9,599.24. Meanwhile, the French CAC 40 slid 0.23% to 4,466.87, while UK’s benchmark FTSE 100 climbed 0.24% to 6,831.02.
Ukraine
As clashes in the eastern region of Ukraine continued over the weekend, pro-Russian separatists’ leaders in the country’s eastern region of Donetsk declared victory in Sunday’s referendum to leave Ukraine, with almost 90% votes in favor. Leaders from the Western nations said the referendum was illegal and will not recognize the vote and results.
“Events in Ukraine are likely to once again cast a shadow over financial markets this week, as the risk of further civil unrest looks set to rise in the wake of the weekend referendums in Donetsk and Luhansk, which went ahead despite a request from Russian Vladimir Putin to postpone them last week,” chief market analyst at CMC Markets Michael Hewson said in a note.
Officials from the European Union are expected to meet in Brussels later in the day to discuss further sanctions on companies and individuals associated with the crises in Ukraine.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
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