Asia-Pacific actions are mixed; Fall in Hong Kong listed equities to the minimum wage
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SINGAPORE – Stocks in Asia-Pacific were mixed on Monday as the coronavirus situation in parts of North Asia remained dire.
Mainland Chinese stocks were higher at their close, with the Shanghai Composite up 0.76% to 3,420.57 while the Shenzhen component jumped 2.026% to 14,134.85.
China kept its prime lending rates unchanged on Monday, in line with analysts and traders’ expectations in a recent Reuters poll. The one-year and five-year LPRs were maintained at 3.85% and 4.65%, respectively.
that of Hong Kong Hang Seng Index declined 0.72% to close at 26,306.68. Hong Kong-listed shares of China’s largest chipmaker Semiconductor Manufacturing International Corporation, or SMIC, was down 3.63% after the US Department of Commerce company added the company to its blacklist, limiting its ability to access certain US technologies.
In Japan, the Nikkei 225 dipped 0.18% to close at 26,714.42 while the Topix index lost 0.23% to end its trading day at 1,789.05. that of South Korea Kospi closed 0.23% higher at 2,778.65.
Shares in Australia fell, with the S & P / ASX 200 fractionally lower over the day to 6,669.90. The downward moves came as other states imposed travel restrictions on Sydney, leaving the country’s most populous city isolated from the rest of the nation amid a growing cluster of coronavirus cases, according to Reuters.
The MSCI’s largest Asia-Pacific stock index outside of Japan traded down 0.32%.
the coronavirus The situation in parts of North Asia, such as Japan and South Korea, remained serious and could have weighed on investor morale.
New cases of coronavirus in South Korea have reached a new sunday record, according to the local Yonhap news agency. In Japan, the country’s capital, Tokyo, saw its monthly number of new coronavirus cases surpass 10,000 for the first time on Sunday, according to Kyodo News.
Oil prices are falling
Oil prices fell in the afternoon of trading hours in Asia, with an international benchmark Brent Crude Futures down 3.23% to $ 50.57 a barrel. U.S. crude futures contracts also fell more than 3% to $ 47.44 a barrel.
the US dollar index, which tracks the greenback against a basket of its peers, was at 90.596, after recently falling below the 90 level.
the Japanese yen traded at 103.55 per dollar after levels below 103.2 against the greenback seen last week. the Australian dollar changed hands at $ 0.7534, after rising from levels below $ 0.752 last week.
– CNBC’s Berkeley Lovelace Jr. contributed to this report.
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