Yahoo Finance Asian Stocks Mixed After Global Sell-Off Last Week; China Underperforms
Investing.com - Asian markets were mixed in morning trade on Monday following the global sell-off last week. China and Hong Kong stocks underperformed their regional peers.
Japan’s Nikkei 225 inched up 0.1% by 9:41 PM ET (01:41 GMT) after trade ministry data showed the country’s September retail sales rose 2.1% from a year earlier, beating the general consensus for a 1.6% increase. However, the growth was slower than the 2.7% expansion in August.
The slowdown was considered to be temporary, caused by a string of natural disasters that upset business and consumer activity, Reuters reported citing analysts.
Meanwhile, Hitachi Chemical Co Ltd (T:4217) plunged as much as 14% on reports that it had falsified inspections for a material used in semiconductors.
Local media reported over the weekend that the company informed its customers of the inspection misconduct for the material used to protect semiconductor chips from scratches and debris.
China’s Shanghai Composite and the SZSE Component were down 0.9% and 1.3% respectively, while Hong Kong’s Hang Seng Index was also down 0.1%.
South Korea’s KOSPI traded 0.5% lower.
Down under, Australia’s ASX 200 was up 1%. An opinion poll published on Monday revealed the country’s Prime Minister Scott Morrison's approval rating dropped from 7 on Oct.1 5 to -3 on Oct. 28. It was the first negative rating Morrison received since he became the country's leader in August.
The poll also found that the number dissatisfied with Morrison jumped six points to 44%.
Looking ahead, China’s manufacturing PMI and U.S. jobless claims will likely be the focus later this week.
The corporate calendar for this week includes Facebook (NASDAQ:FB), Sony Corp (T:6758), Samsung (KS:005930), Apple (NASDAQ:AAPL), Alibaba (NYSE:BABA), Exxon Mobil (NYSE:XOM), PetroChina (HK:0857), Macquarie Group Ltd (AX:MQG) and HSBC Holdings (LON:HSBA) PLC (NYSE:HSBC).
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