Investing.com – Asian stocks were mixed on Monday, after China ordered banks to raise the amount of money they hold in reserves for a third time this year and Greece secured a euro zone-IMF rescue package.
Hong Kong's Hang Seng Index was down 1.22%; Australia's S&P/ASX 200 Index dropped 0.46%; and South Korea's Kospi Composite shed 1.17%.
But the Shanghai Composite Index gained 0.08%.
Earlier Monday, official data showed that Australian house prices rose the most since at least 2003 in the three months through March. The report came a day before the Reserve Bank of Australia was set to announce a key interest rate decision.
The move by China was a fresh effort to dampen inflation pressures in the economy, the world's third-largest, as the government attempts to cool a credit boom without hiking interest rates.
The outlook for European markets, meanwhile, was quite dim: France’s CAC 40 futures indicated a fall of 0.48%; Germany's DAX futures pointed to a drop of 0.22%; and EURO STOXX 50 futures indicated a slide of 0.47%.
Later in the day, the Institute for Supply Management, a research group, was due to release the results of a closely watched monthly survey of purchasing managers in the U.S. manufacturing sector.
Hong Kong's Hang Seng Index was down 1.22%; Australia's S&P/ASX 200 Index dropped 0.46%; and South Korea's Kospi Composite shed 1.17%.
But the Shanghai Composite Index gained 0.08%.
Earlier Monday, official data showed that Australian house prices rose the most since at least 2003 in the three months through March. The report came a day before the Reserve Bank of Australia was set to announce a key interest rate decision.
The move by China was a fresh effort to dampen inflation pressures in the economy, the world's third-largest, as the government attempts to cool a credit boom without hiking interest rates.
The outlook for European markets, meanwhile, was quite dim: France’s CAC 40 futures indicated a fall of 0.48%; Germany's DAX futures pointed to a drop of 0.22%; and EURO STOXX 50 futures indicated a slide of 0.47%.
Later in the day, the Institute for Supply Management, a research group, was due to release the results of a closely watched monthly survey of purchasing managers in the U.S. manufacturing sector.