View the article online at http://citywire.co.uk/money/article/a871151
Asian stocks finish mixed
Japanese equities managed to rise following a rebound in crude oil prices from multiple-year lows.
Asian equities closed mixed on Monday amid a lack of immediate directional cues in light year-end trade, with Japanese shares managing to rise following a rebound in crude oil prices from multiple-year lows.
The main Nikkei 225 index gained 104 points, or 0.56%, at 18,873. In China, the Shanghai Composite Index was down 2.57% at 3,535, while Hong Kong’s Hang Seng Index shed 1.06% at 21,904. In South Korea, the Kospi Index declined 1.34% at 1,964.
The Australian market remains closed today. It was closed Friday for the Christmas holiday.
Investors across asset markets were without some of the usual leads as most global markets were closed on Friday for Christmas.
Energy stocks in Asia finished the session mixed after US crude fell 0.9% to $37.74 CLc1 a barrel but remained significantly above $33.98, its lowest level since February 2009.
Japan Petroleum was up 1.11%, while in South Korea, S-Oil and SK Innovation were down 3.06% and 2.59% respectively. Chinese energy plays such as CNOOC and Sinopec traded down 1.78% and 3.43% respectively.
In company news, shares of Sharp Corp. jumped 7.27%. According to local media reports last week, citing sources close to the matter, Taiwan's Hon Hai Precision Industry, one of the largest suppliers of electronics products, proposed buying the Japanese company for ¥300 billion. Hon Hai shares closed down 0.74%.
In South Korea, shares of Samsung Group companies were mostly trading lower across the board, with Samsung C&T down 4.81% at market close. Samsung Electronics shares finished 1.48% lower.
In China, banking shares lead the fall, following weak industrial output data. On the Hong Kong bourse, shares of China Telecom, one of the biggest telco providers in the country, traded down 1.07%.
H-shares of China Success Finance Group soared nearly 26% after the company issued a statement saying it entered a memorandum of understanding with Shun Yang Construction to form a joint venture company for financial services of public infrastructure works.
News sponsored by:
From Brazil and Mexico, to Vietnam and Nigeria, the rapidly developing economies of Latin American and frontier markets, which are some of the smaller, less developed economies in the world, provides investors with a wealth of potential opportunities. Discover why BlackRock's investment trust range is well placed to help you make more of these exciting regions.
In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.
More about this:
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add email@example.com to your safe senders list so we don't get junked.
by Michelle McGagh on Sep 27, 2016 at 12:00