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 French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter