Asian Stocks Trade Mixed Amid Weaker Yen, Higher Oil
The sentiment on the Asian bourses remained mixed; with the region’s
indices kicking-off the week slightly subdued as poor US data released
Friday hit the moods somewhat. Although, the bounce in oil prices
provided some respite to the Asian traders.
Oil prices jolted higher this Monday after Saudi’s oil minister Naimi was ousted by King Salman, while supply concerns over Canadian raging wildfires also collaborated to the upside in the black gold. More so, yen’s relative weakness lent support to the Japanese exporters’ stocks and lifted the indices higher.
However, in the last hour, the yen is seen picking-up strength against its American counterpart and therefore, capping the gains on the Japanese equities.
Asia unperturbed by Oil-price rebound
Meanwhile, the Japanese benchmark index, the Nikkei 225 rises 0.54%, Australia’s ASX 200 index slides -0.40% to 5,270 points, despite upbeat Chinese trade numbers.
While the Chinese equities also extended losses, with the benchmark Shanghai Composite index down -1.95%, the CSI300 index drops -1.14%, while Kong’s Hang Seng ditches their Chinese counterpart and advances +0.70%.