Investing.com – Asian stock markets were mixed in thin trade on Monday, as market sentiment was weighed by concerns over the pace of the U.S. economic recovery, while shares in Japanese exporters were pressured by a stronger yen.
During late Asian trade, Hong Kong's Hang Seng Index rose 0.34%, South Korea's Kospi Composite slumped 0.31%, while Japan’s Nikkei 225 Index shed 0.2%.
Data on Friday showed that pending home sales in the U.S. plunged in April, while a separate report showed that consumer spending rose less-than-expected last month.
Meanwhile, shares in Japanese exporters were broadly lower as the yen hovered close to a two-week high against the U.S. dollar, dampening the outlook for export earnings.
Consumer electronics giant Sony saw shares decline 2.05%, the world’s second largest automaker Toyota saw shares slide 1%, while shares in digital camera maker Canon shed 0.9%.
Shares in Honda slumped 1.3% after the company said hackers accessed personal data of about 280,000 customers in Canada.
On the upside, shares in Sumitomo Realty & Development, Japan’s third largest property developer jumped 1.25% after Barclays upgraded the stock to ‘overweight’.
Elsewhere, in Hong Kong, oil and gas giant CNOOC climbed 0.75% after it was reported to have sold a 25% stake in an exploration license to French oil major Total SA.
Shares in Li & Fung, the biggest supplier to retailers including Wal-Mart, surged 4% as traders viewed the stock as oversold, following a 7.3% drop in the previous session.
The outlook for European stock markets was modestly lower. The EURO STOXX 50 futures pointed to a decline of 0.1%, France’s CAC 40 futures shed 0.06%, the FTSE 100 futures dipped 0.04%, while Germany's DAX futures edged 0.06% lower.
Also Monday, liquidity was relatively thin as U.K. markets were to stay closed for the Spring Bank Holiday and U.S. markets for Memorial Day.
During late Asian trade, Hong Kong's Hang Seng Index rose 0.34%, South Korea's Kospi Composite slumped 0.31%, while Japan’s Nikkei 225 Index shed 0.2%.
Data on Friday showed that pending home sales in the U.S. plunged in April, while a separate report showed that consumer spending rose less-than-expected last month.
Meanwhile, shares in Japanese exporters were broadly lower as the yen hovered close to a two-week high against the U.S. dollar, dampening the outlook for export earnings.
Consumer electronics giant Sony saw shares decline 2.05%, the world’s second largest automaker Toyota saw shares slide 1%, while shares in digital camera maker Canon shed 0.9%.
Shares in Honda slumped 1.3% after the company said hackers accessed personal data of about 280,000 customers in Canada.
On the upside, shares in Sumitomo Realty & Development, Japan’s third largest property developer jumped 1.25% after Barclays upgraded the stock to ‘overweight’.
Elsewhere, in Hong Kong, oil and gas giant CNOOC climbed 0.75% after it was reported to have sold a 25% stake in an exploration license to French oil major Total SA.
Shares in Li & Fung, the biggest supplier to retailers including Wal-Mart, surged 4% as traders viewed the stock as oversold, following a 7.3% drop in the previous session.
The outlook for European stock markets was modestly lower. The EURO STOXX 50 futures pointed to a decline of 0.1%, France’s CAC 40 futures shed 0.06%, the FTSE 100 futures dipped 0.04%, while Germany's DAX futures edged 0.06% lower.
Also Monday, liquidity was relatively thin as U.K. markets were to stay closed for the Spring Bank Holiday and U.S. markets for Memorial Day.