Asian stocks in mixed mood over the trade agreement perspective

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The stock markets in the Asian region showed a mixed picture on Monday. Investors processed the statements of US President Donald Trump, who stated that he did not expect a quick trade agreement with China. The gaze was also focused on the course of the Chinese yuan. In addition, stock market trading was relatively calm as the major financial markets in Japan, India and Singapore were closed due to national holidays.

The stock market in Shanghai was 0.8 percent in the plus in the meantime. The Chinese central bank set the reference rate of the yuan at 7.0211 yuan per dollar. That was weaker than last Friday’s central rate, but stronger than the market had foreseen.

The Hang Seng index in Hong Kong rose a fraction. Hong Kong’s economy is being hit hard by the ongoing protests in the city. According to Finance Minister Paul Chan, the economy is going through very difficult times due to falling trade and slower growth. The Kospi in Seoul added 0.4 percent. The All Ordinaries in Sydney fell 0.1 percent under the leadership of Australian mining companies.

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Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

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