Citywire for Financial Professionals
Stay connected:

View the article online at

Asian stocks mixed as oil declines

A retreat in crude prices left investors in a ponderous mood about the health of the global economy.

Asian stocks mixed as oil declines

Markets in Asia traded mixed on Monday in morning session as a retreat in oil prices left investors in a ponderous mood about the health of the global economy.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%. The South Korean Kospi gave up early gains to trade 0.24% lower, while Down Under, the ASX 200 was lower by 0.55%.

Hong Kong's Hang Seng index was up 0.38%, with shares of Standard Chartered bank surging 8.33%, following gains in the bank's shares in London trading on Friday.

Chinese markets traded up, with the Shanghai composite higher by 1.74%, while the Shenzhen composite added 1.79%.

In Japan, the benchmark Nikkei 225, which shed 1.25% on Friday to close at 16,725, was closed for a public holiday.

Oil prices slipped for a second day on Monday, extending Friday's slide of over 1% after the US rig count rose for the first time since December, renewing worries of a supply glut after an output freeze proposal had helped boost the market to 2016 highs.

Energy plays in Asia were mixed, with Santos down 2.59% and Woodside Petroleum shedding 1.35%, while mainland shares of China's Sinopec up 1.68%.

In company news, major Australian miners traded lower, with shares of Rio Tinto down 0.91% and BHP Billiton lower by 1.05%, while the country's so-called Big Four banks - ANZ, Commonwealth Bank of Australia, Westpac and NAB - were down between 0.34% and 1.46%.

South Korean blue chip stocks were mixed, with Samsung Electronics erasing early gains to trade lower by 0.31%, Kepco up 0.84% and Hyundai Motor higher by 1%.

In currencies, the US dollar index was little changed at 95.042, not far from a five-month trough of 94.578 set on Friday.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

The Citywire Guide to Investment Trusts

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.

Watch Now

More about this:


Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

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 to your safe senders list so we don't get junked.


The hedge fund that's beaten Woodford twice

by Daniel Grote on Apr 25, 2018 at 16:00

Sorry, this link is not
quite ready yet