Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Asia shares gain as yen declines

Asia shares gain as yen declines

Asian equities inched higher on Monday in morning session, with a weaker yen supporting Japanese shares, and ahead of Brexit negotiations between the UK and the European Union.

Japan's benchmark Nikkei 225 index rose 0.60% and South Korea's Kospi edged higher by 0.49%. Down Under, the S&P/ASX 200 added 0.53%, on strength from its utilities and financials sub-indexes.

Markets in greater China were in the green, with Hong Kong's Hang Seng Index gaining 1.01%. On the mainland, the Shanghai Composite added 0.42% and the Shenzhen Composite rose 0.27%.

South Korean tech stocks trended higher. Shares of Samsung Electronics were up by 1.45% and SK Hynix soared by 2.81%. Nomura had maintained its "Buy" call on SK Hynix.

Shares of Singapore-listed commodity trader Noble Group soared 9.23% after reports that its creditors had extended a critical repayment deadline by four months.

Latest government data showed exports from Japan rose 14.9% on year compared to the 16.1% rise projected by a Reuters poll. Japan's trade balance, however, registered a deficit of 203.4 billion yen ($1.83 billion) compared to the 76 billion yen surplus expected.

In currency market, the euro gave up early gains despite indications French president Emmanuel Macron’s party is poised to win the biggest majority in 15 years.

The pound slipped with formal negotiations on the UK’s exit from the European Union due to start.

In commodities, oil prices trended lower. Brent crude declined 0.44% to trade at $47.16 a barrel and US crude shed 0.47% to trade at $44.53.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter