Asia report: Markets mixed on another regional public holiday
Most markets in Asia were higher on Monday, with investors left to digest fresh economic indicators out of China as that region came out of its Golden Week of public holidays.
AUD/USD
$0.6416
23:00 19/04/24
GBP/NZD
NZD2.1007
23:53 19/04/24
Hang Seng
16,224.14
10:21 19/04/24
Nikkei 225
37,068.35
09:44 19/04/24
USD/JPY
¥154.6345
23:58 19/04/24
In Japan, traders enjoyed a Monday off for a public holiday, as did their counterparts in South Korea and Taiwan.
The yen was slightly stronger on the dollar, last trading ahead 0.02% at JPY 112.63.
On the mainland, the Shanghai Composite was up 0.77% at 3,374.87, and the smaller, technology-centric Shenzhen Composite added 1.3% to 2,014.43.
The unofficial Caixin services purchasing managers index came in at 50.6 for September, down from 52.7 in August, suggesting the slowest rate of growth in non-manufacturing activity in almost two years.
At the same time, the composite PMI from Caixin came in at 51.4 for September, also down from 52.4 in August.
Carmakers were on the front foot in China, with Changan Auto up 3.39%, Dongfeng Auto ahead4.63% and Faw Car rising 9.16%.
The Hang Seng Index in Hong Kong lost 0.46% to finish at 28,326.59, with gambling stocks underperforming despite the longer Golden Week holiday.
Galaxy Entertainment, Sands China and Wynn Macau were all lower in Monday trading.
Markets were also digesting labour data out of the US on Friday, with 33,000 fewer jobs in the country in September - a significant miss of the 90,000 more jobs forecast in a Reuters poll.
The disappointing reading was put down to the impact of Hurricanes Harvey and Irma, which left parts of Texas and Florida devastated.
On a somewhat positive note, average hourly wages were ahead 0.5% in the US in September, with unemployment falling to its lowest level in more than 16 years.
Oil prices managed small gains during Asian trading, though they turned mixed as Europe took the trading baton with Brent crude last down 0.74% at $55.21 per barrel and West Texas Intermediate flat at $49.29.
In Australia, the S&P/ASX 200 was up 0.5% at 5,739.26, with gains seen across most sectors, although major miners and the energy subindex disappointed.
Gold producers were higher, with Alacer Gold up 3.14% and Kingsgate ahead 3.7% by end-of-play in Sydney.
Hotel operator Mantra Group surged 16.41%, after it confirmed it had received a takeover offer from Accor.
Across the Tasman Sea, New Zealand’s S&P/ASX 200 was up 0.4%, breaking the 8,000 mark for the first time ever to settle at 8,010.28.
Both of the down under dollars were weaker against the greenback, with the Aussie last off 0.12% at AUD 1.2888 and the Kiwi retreating 0.08% to trade at NZD 1.4121.