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Market Update: Asia Pacific Shares Lack Direction
Major bourses in the Asia Pacific traded mixed on Monday, on reports that the PBoC today injected a total of CNY 100 billion into the banking system, which added to the net CNY 320 billion last week; and as fears lingered over the potential collapse of China Evergrande after it missed an interest payment last week. The ASX led the gains (0.52%), amid news that New Zealand planned to unveil its roadmap for reopening. Stocks in Hong Kong also gained (0.36%) after falling in the early session, with China’s state-run oil and gas major CNOOC being the top gainer and jumping over 5% on its Shanghai listing plan. The Kospi was up 0.2%, on the back of strong buying from foreign investors for an 8th straight session. The Shanghai Composite sank fell 0.8%, however, dragged down by a move by China’s central bank to ban cryptocurrencies. Shares in Japan were almost flat as state of emergency is set to end at the end of the month, with the government reportedly planning to make a decision Tuesday. [/s2If]
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