SINGAPORE – Stocks in the Asia-Pacific were mixed in Monday morning trading as investors watched the Covid wave in China. Meanwhile, oil prices continued to fluctuate amid the Russo-Ukrainian war.
From Hong Kong Hang Seng Index down 2.77% in morning trade as shares of Chinese tech heavyweights Tencent down 3.43%. Mainland China stocks were also lower, with Shanghai composite down 1.5% while Shenzhen Ingredients down 1.46%.
In Japan, Nikkei 225 up 1.03% while the Topix index gained 0.97%. The S&P / ASX 200 in Australia increased by 1.07%.
South Korea Kospi lagged, down 0.54%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.99% lower.
Investors continue to monitor developments on the Russian-Ukrainian war, disrupt shipping and aviation. Elsewhere, the market also tracks a recent wave of Covid infections in China – including the big city Shenzhen.
Oil prices fell 3%
America Federal Reserve It is widely expected to announce a rate hike later this week, the first such move since 2018.
In Asia, Bank of Japan will also announce its monetary policy decision at the end of the week.
Currency
The US Dollar Indextracks the greenback against its basket of currencies, at 99.049 after a recent rise from below 98.
The Japanese yen was trading at 117.66 per dollar after last week weakened from below 116 against the greenback. The Australian dollar at $0.7275 after sliding from above $0.732 late last week.
