Asian stocks were mixed as many markets reopened after the holidays. China stocks fell as geopolitical risks lingered, while Japan equities rose on speculation recent losses have been overdone.
MSCI AC Asia Pacific Index rose 0.4 percent as of 4:59 p.m. Hong Kong time with an almost equal number of stocks rising and declining. South Korean shares climbed after a failed missile launch from Pyongyang over the weekend. Japan’s Topix increased 0.5 percent even as the yen gained 0.3 percent against the dollar. S&P 500 futures fell 0.1 percent. Australia, New Zealand and Hong Kong markets were closed for holidays.
Chinese shares tumbled to the lowest level this month amid concerns over Korea and a call by the country’s stock regulator for stricter supervision of companies. Separately, the world’s second-largest economy expanded 6.9% in the Jan.-March period, according to data released Monday
- Topix +0.5%, Nikkei 225 +0.1%; yen +0.3%
- Shanghai Composite Index -0.7%, Taiwan Stock Exchange Weighted Index -0.2%
- South Korea’s Kospi +0.5%
- Philippine Stock Exchange PSEi Index -0.5%, FTSE Bursa Malaysia KLCI Index +0.2%, Straits Times Index -1%, Jakarta Composite Index -0.7%, Vietnam Stock Index -1.1%
- Singapore Stock Traders on FIS SunGard Face Monday Disruption
- S&P 500 mini futures contract -0.2%, Dow Jones Industrial Average futures contract -0.1%, Nasdaq 100 e-minis -0.1%