Investing.com – Asian stocks were mixed on Monday, as market sentiment was weighed after China introduced further monetary tightening measures, while Japanese exporters advanced on the back of a weaker yen.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.54%, South Korea's Kospi Composite shed 0.39%, while Japan’s Nikkei 225 Index climbed 0.04%.
On Friday, the People’s Bank of China announced that it lifted lenders’ reserve requirements for the fourth time in two months in an effort to curb inflation and cool its rapidly growing economy.
In Hong Kong, shares in the financial sector were broadly lower. Shares in China Construction Bank tumbled 2.05%, Bank of China Hong Kong saw shares drop 1.68%, while shares in China’s largest lender Industrial and Commercial Bank of China slumped 1.48%.
Elsewhere, shares in many of the big name Japanese exporters advanced after the yen weakened against the U.S. dollar, boosting the outlook for export earnings.
Shares in Asia’s largest maker of semiconductor equipment Tokyo Electron jumped 3.42%, the world’s largest digital camera maker Canon saw shares gain 0.57%, while shares in the world’s largest maker of industrial robots Fanuc climbed 0.97%.
Meanwhile, shares in Japan’s second largest textile and clothing supplier Japan Wool Textile soared 11.59% after the company said it expected full-year net income to increase by 40% to JPY3 billion in 2011.
Elsewhere, Australia’s S&P/ASX 200 Index fell 0.80% as resource stocks led losses after metal and crude oil prices retreated.
Shares in the world’s second largest mining group Rio Tinto tumbled 1.89%, rival BHP Billiton saw shares drop 1.20%, while shares in gold producer Newcrest Mining declined 1.25%.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.63%, France’s CAC 40 futures indicated a drop of 0.47%, the FTSE 100 futures pointed to a decline of 0.44%, while Germany's DAX futures were down 0.37%.
Also Monday, markets in the U.S. were to remain closed in observance of Martin Luther King Day.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.54%, South Korea's Kospi Composite shed 0.39%, while Japan’s Nikkei 225 Index climbed 0.04%.
On Friday, the People’s Bank of China announced that it lifted lenders’ reserve requirements for the fourth time in two months in an effort to curb inflation and cool its rapidly growing economy.
In Hong Kong, shares in the financial sector were broadly lower. Shares in China Construction Bank tumbled 2.05%, Bank of China Hong Kong saw shares drop 1.68%, while shares in China’s largest lender Industrial and Commercial Bank of China slumped 1.48%.
Elsewhere, shares in many of the big name Japanese exporters advanced after the yen weakened against the U.S. dollar, boosting the outlook for export earnings.
Shares in Asia’s largest maker of semiconductor equipment Tokyo Electron jumped 3.42%, the world’s largest digital camera maker Canon saw shares gain 0.57%, while shares in the world’s largest maker of industrial robots Fanuc climbed 0.97%.
Meanwhile, shares in Japan’s second largest textile and clothing supplier Japan Wool Textile soared 11.59% after the company said it expected full-year net income to increase by 40% to JPY3 billion in 2011.
Elsewhere, Australia’s S&P/ASX 200 Index fell 0.80% as resource stocks led losses after metal and crude oil prices retreated.
Shares in the world’s second largest mining group Rio Tinto tumbled 1.89%, rival BHP Billiton saw shares drop 1.20%, while shares in gold producer Newcrest Mining declined 1.25%.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.63%, France’s CAC 40 futures indicated a drop of 0.47%, the FTSE 100 futures pointed to a decline of 0.44%, while Germany's DAX futures were down 0.37%.
Also Monday, markets in the U.S. were to remain closed in observance of Martin Luther King Day.