Categories: Stocks & Shares

Stock in Asia-Pacific mixed

The Shanghai composite dropped 0.23%, Hang Seng index added 0.88%, the S&P/ASX 200 shed 0.86%, and MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.23%

Stock in Asia-Pacific were mixed, with South Korean stocks rising again on the back of big gains last week.

South Korea’s Kospi, which had a stellar start to 2021 as it jumped nearly 10% in the first trading week of the year, shed earlier gains as it declined about 1%.

Shares of automaker Hyundai Motor rose again on Monday following a local media report that the firm and Apple are set to sign a partnership deal on autonomous electric cars, according to Reuters.

Hyundai Motor shares soared 6.71% while Kia Motors also jumped more than 1%. Hyundai Mobis and Hyundai Glovis, however, fell more than 2% each. Shares of Hyundai Motor popped more than 19% on Friday following an initial report surrounding the Apple deal.

Mainland Chinese stocks dipped, with the Shanghai composite declining 0.23% while the Shenzhen component shed 0.431%.

China’s producer price index fell 0.4% in December as compared to a year earlier, according to the country’s Bureau of Statistics. That was a smaller decline than the 0.8% fall expected in a median forecast of a Reuters poll. Meanwhile, China’s consumer price index rose 0.2% year-on-year in December, against expectations of a 0.1% increase in a Reuters poll.

Hong Kong’s Hang Seng index advanced 0.88%. Elsewhere, the S&P/ASX 200 in Australia declined 0.86%.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.23%.

Markets in Japan are closed on Monday for a holiday.

In currency markets, the U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.425 after a recent rise from levels below 89.4.

The Japanese yen traded at 104.19 per dollar after weakening last week from levels below 103 against the greenback. The Australian dollar was at $0.7698 following levels above $0.78 seen last week.


This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Richard Stanley

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