The stock exchange in Japan started slightly lower on Monday for the new trading week. Investors took back some gas prior to the new season. Last Friday’s better-than-expected US job report kept the loss limited. The other major stock market indicators in the Far East showed a mixed picture.
The Nikkei index in Tokyo finished 0.2 percent in the minus at 21,761.65 points. Banks and insurers were sold after the recent strong rise. Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group lost up to 1 percent. Insurer Dai-ichi Life Holdings surrendered 1.2 percent. The oil companies, on the other hand, benefited from the rise in oil prices. Inpex climbed 1.3 percent and Japan Petroleum Exploration rose 0.3 percent. The industrial automation company Yaskawa Electric, which will publish annual figures later in the week, won 0.4 percent.
In China, investors returned after a long weekend. The stock market in Shanghai fell 1 percent and the Hang Seng index in Hong Kong was 0.2 percent higher in the meantime. According to the Chinese news agency Xinhua, negotiations between China and the United States on a trade deal are progressing steadily, but there are certainly still a number of important issues to be negotiated.
The Kospi in Seoul lost 0.1 percent. Korean Air climbed 2 percent after the death of Chairman Cho Yang-ho. Last month Cho, the son of the founder, was removed from the board of the airline together with family members, due to several criminal investigations into him. Hanjin Transportation, where Cho also chaired, added 14.7 percent. The All Ordinaries in Sydney left the day with a gain of 0.6 percent.