Asian markets mixed in post-Easter trading

23-Apr-2019 Intellasia | AP | 6:38 AM Print This Post

Asian stock markets were mixed Monday following the Easter holiday weekend as investors looked ahead to US and Japanese economic data.

Benchmarks in Tokyo and Seoul gained while Shanghai retreated. Hong Kong and Sydney were closed for the holiday.

On Wall Street, the benchmark Standard & Poor’s 500 index ended a shortened trading week on Thursday snapping a winning streak of three weekly gains.

Investors looked ahead to US quarterly gross domestic product due out Friday. The United States reports new home sales Tuesday while Japan announces factory output on Friday.

“The broad expectation is for US indices to grind higher,” said Jingyi Pan of IG Markets in a report.

“However, with prices nearing all-time highs, some sense of caution may be bound to set in,” Pan said. “Earnings and the first reading of US’s Q1 GDP at the end of the week would be key for markets.”

Tokyo’s Nikkei 225 index rose 0.1 percent to 22,233.04 and Seoul’s Kospi gained 0.1 percent to 2,218.47. The Shanghai Composite Index shed 0.6 percent to 3,250.91.

Benchmarks in Taiwan, Singapore and Manila gained while Jakarta retreated.

On Thursday, the S&P 500 gained 0.2 percent to 2,905.03 before closing for Good Friday. The Dow Jones Industrial Average rose 0.4 percent to 26,559.54. The Nasdaq composite added less than 0.1 percent to 7,998.06.

ENERGY: Benchmark US crude surged $1.48 to $65.55 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.20 on Friday to close at $64.07. Brent crude, used to price international oils, soared $1.73 to $73.70 per barrel in London. It gained 35 cents the previous session to $71.97.

CURRENCY: The dollar gained to 111.94 yen from Friday’s 111.91 yen. The euro declined to $1.1239 from $1.1245.


Category: FinanceAsia

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