Asian stocks region were seen swinging in between losses and gains on Monday after a five-day winning streak as investors continue to focus on the ongoing geopolitical tensions.
The Japanese Nikkei 225 index rose 0.03% higher to trade at 15,322.60 points, while Tokyo’s Topix index slid 0.03% lower to 1,270.16 points. Chugai Pharmaceutical jumped 12.52% as Roche, which owns nearly 62% of the Japanese drug manufacturer, said it aims to buy the rest of the shares for approximately $10 billion to gain full control of the company, according to reports. Nintendo shares advanced 7.31% after reporting that the company’s ‘Mario Kart 8’ exceeded 1 million units in the US, while Tokyo Electron rose 4.26% higher.
Hong Kong’s Hang Seng index slid 0.30% lower to 24,912.14 points, while China’s mainland Shanghai Composite added 0.29% to 2,230.91 points. Shares in the Chinese oil company CNOOC gained 3.54%, while property developer China Resources Land slid 1.99% lower. The computer technology company Lenovo rose to a 14-year higher as shares climbed 1.9% to HK$11.78. The property market in China continue to decline in July as house prices fell in 64 of 70 cities last month from June tracked by the Chinese government, in which 55 cities saw declining prices, according to the National Bureau of statistics data. Prices in China slid to an average 0.9% on a monthly basis in July, compared to the 0.5% fall seen in the previous month. The South Korean Kospi index edged 0.49% lower, closing at 2,053.13 points, while Australia’s benchmark S&P/ASX 200 index added 0.28% to end at 5,582.30 points. Meanwhile, the Australian Pharmaceutical product-makers gained 4.24%, while on the downside, National Australia Bank lost 1.50% after the bank posted earnings for its June-quarter which chief executive Andrew Thorburn described as “satisfactory”.
Stocks in the European region were seen kicking off the week posting gains amid the situation in Ukraine as the country and Russia hold talks to ease the conflict. The European Euro Stoxx 50 climbed 1.45% higher to 3,072.50 at the time of writing, while the French CAC 40 index added 1.41% to trade at 4,236.30 at the same time. In Germany, the benchmark DAX index gained 1.45% to 9,224.80 and UK’s FTSE 100 edged 0.64% higher to 6,733.30.
Foreign ministers from Russia, Ukraine, France and Germany will continue met on Sunday to discuss how to ease the tension between Russia and Ukraine. Meanwhile, the US President Barack Obama authorized US airstrikes on Iraq over the weekend to help regain control over the Monsul Dam, the nation’s largest Dam, which had been seized by insurgents. In other news, this week the spotlight will be on the US Federal Reserve as the Fed is expected to release minutes from its latest meeting, which could point out more hints on the central bank’s next move on its monetary stimulus.
Free Reports:
Deposit $100 get $100 absolutely FREE! Register with HY Markets today.
The post Stocks Market Report 18th August appeared first on | HY Markets Official blog.