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Asian markets mixed; Nikkei flat, Hang Seng gains

Asian markets were trading mixed on Monday. Shanghai Composite was up 1 percent, while Nikkei and Seoul Composite were trading flat.

Asian markets mixed; Nikkei flat, Hang Seng gains

Asian equities were mixed on Monday, after an uninspiring handover from Wall Street last week.

US stocks ended the week mixed in below-average trade volume after news of fresh conflict in Eastern Europe. The Dow Jones Industrial Average lost 0.3 percent while the S&P 500 shaved losses to close little changed. The Nasdaq reversed declines to gain 0.3 percent last Friday.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, rose more than 8 percent to trade near 13.49. But the indicator was down 17 percent for the week, the largest weekly loss in 4 months.

In Ukraine, Kiev claimed on Sunday that its army had advanced into the eastern city of Lugansk, marking a breakthrough in a four-month-long campaign against separatists backed by Russia.

The White House on Sunday said President Barack Obama had authorized US air strikes in Iraq to help retake control of the Mosul Dam and that the action was consistent with his goal of protecting US citizens in that country.

China’s Shanghai Composite added 0.92 percent or 20.27 points at 2,226.73. Hong Kong’s Hang Seng gained 0.62 percent or 153.58 points at 24,954.94.

Singapore’s Straits Times gained 0.61 percent or 19.94 points at 3,314.77. Taiwan’s Taiwan Weighted was down 0.26 percent or 23.80 points at 9,206.81.

Japan’s Nikkei was flat at 15,318.34 and South Korea’s Seoul Composite was flat at 2,063.22.

(With inputs from cnbc.com)

 

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