Asian Shares Mixed Monday 10/21 05:48
Asian shares were mixed Monday amid uncertainties about Britain's exit from
the European Union and the ongoing trade conflict between the U.S. and China.
TOKYO (AP) -- Asian shares were mixed Monday amid uncertainties about
Britain's exit from the European Union and the ongoing trade conflict between
the U.S. and China.
Japan's benchmark Nikkei 225 gained nearly 0.3% in afternoon trading to
22,555.14. South Korea's Kospi picked up 0.2% to 2,064.27, while Hong Kong's
Hang Seng added 0.2% to 26,783.22. The S&P/ASX 200 in Australia inched up less
than 0.1% to 6,652.50, while the Shanghai Composite slipped 0.2% to 2,932.96.
Shares fell in Taiwan and were mixed in Southeast Asia.
British Prime Minister Boris Johnson is trying to win over rebellious
lawmakers in time to meet the Oct. 31 deadline for the U.K.'s exit from the
28-nation European Union.
A vote over the weekend ended with an amendment that delays the proposed
deal, leaving the situation uncertain. And EU officials have not responded to
Johnson's reluctant request for an extension of the deadline.
"The can is not kicked far down the road with UK Prime Minister Boris
Johnson expected to seek a new 'meaningful vote' on his deal as soon as Monday
with the countdown to the Brexit deadline," Jingyi Pan of IG said in a
Meanwhile, Japan reported that its exports fell 5.2% from a year earlier in
September while imports slipped 1.5%. The resulting deficit of 123 billion yen
($1.1 billion) reflected weak exports to China, South Korea and other Asian
countries, customs data showed.
The mixed performance to start the week is a continuation of the wobbles
that ended last week, when the S&P 500 index logged its second straight weekly
gain even though stock indexes ended lower on Friday.
Technology companies led the slide, which erased the major U.S. indexes'
gains from the day before. Communication services, industrials and health care
stocks also fell, outweighing gains in real estate companies, banks and
elsewhere in the market.
Investors are focusing on company earnings reports, searching for a clearer
picture on the impact that the trade war between the U.S. and China is having
on corporate profits and the broader economy.
The S&P 500 index fell 0.4% to 2,986.20. The index is just 1.3% below its
all-time high set in late July.
The Dow Jones Industrial Average dropped 1% to 26,770.20 and the Nasdaq lost
0.8%, to 8,089.54. The Russell 2000 index of smaller stocks gave up 0.4% to
Uncertainty over the standoff between Beijing and Washington has been
roiling markets. Negotiators reached a truce last week that kept the conflict
over trade and technology from escalating further, but both sides still have
many issues to work out before reaching a substantive deal.
ENERGY: Benchmark crude oil dipped 10 cents to $53.68 a barrel in electronic
trading on the New York Mercantile Exchange. It fell 15 cents to $53.78 a
barrel Friday. Brent crude oil, the international standard, dropped 14 cents to
$59.28 a barrel.
CURRENCIES: The dollar rose to 108.51 Japanese yen from 108.38 yen on
Friday. The euro slipped to $1.1160 from $1.1174.