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.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.