Asian stocks at start of week mix
Asian stock markets showed a mixed performance on Monday, beginning the new week after Wall Street posted its third consecutive weekly gain last week.
In Japan, the stock market was closed for a public holiday. The closure came a day after the ruling coalition lost its majority in both the House of Representatives and the Senate for the first time since 1955. The defeat in Sunday's elections follows the earlier loss of its majority in the lower house last October.
Despite the electoral setback, Prime Minister Shigeru Ishiba vowed to remain in office, saying the results reflect growing voter frustration with rising prices and ongoing political instability.
In China, the Shanghai Composite Index rose 0.4% to 3,549.89 points, while Hong Kong's Hang Seng Index edged up 0.3% to 24,895.20 points. The gains came after the People's Bank of China (PBOC) decided to keep key interest rates for one-year and five-year loans unchanged.
Recent strong economic data from China helped ease pressure on policymakers to loosen credit conditions further.
Meanwhile, the administration of U.S. President Donald Trump softened its rhetoric toward Beijing, contributing to progress in trade talks and helping the two sides avoid significant tariff hikes on Chinese exports to the U.S.
In South Korea, the Kospi rose 0.5% to 3,205.71 points, supported by a slight improvement in export figures reported for the previous month.
In contrast, Australia's S&P/ASX 200 index fell 1.1% to 8,659.50 points.
Elsewhere, Taiwan's TAIEX slipped 0.3%, India's Sensex (SENEX) rose 0.2%, and Thailand's SET index declined.
Whatsapp Telegram Email Print
more of (International)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saba Yemen
28 minutes ago
- Saba Yemen
Tokyo: U.S. to cut tariffs on Japanese cars to 15%
Tokyo - Saba: Japanese Prime Minister Shigeru Ishiba announced today that the United States will reduce its tariffs on Japanese automobiles from 25% to 15%, following a trade agreement reached between the two countries. Ishiba told reporters, "We have agreed to halve the additional 25% tariffs imposed on cars and auto parts since last April to 15%," including the base tariff of 2.5%. He added, "We are the first country in the world to secure a reduction in additional tariffs on cars and auto parts without any quantity restrictions." The Prime Minister's statement came after former U.S. President Donald Trump posted on his social media platform Truth Social, "We have just struck a massive deal with Japan." Following these positive developments, sharp rises were recorded in the Tokyo stock market as well as in the value of the yen. Whatsapp Telegram Email Print more of (International)
Saba Yemen
6 hours ago
- Saba Yemen
European Stocks Rise Amid Optimism Over Trade Deal with the U.S.
Brussels – SABA: European stocks climbed on Wednesday, led by gains in the automotive sector, as optimism grew over a potential trade agreement with the United States following Washington's recent deal with Japan. The Stoxx 600 index rose nearly 1% to 549.6 points, recovering from three consecutive sessions of losses. Meanwhile, the UK's FTSE 100 extended its winning streak to a fifth straight session, hitting a record high. Other regional indices also advanced, with France's CAC 40 leading the gains, jumping 1.3%. The auto manufacturing sector was the top performer, surging 3.4%, tracking gains in Asian competitor stocks. Shares of Porsche soared 7.6%, while Mercedes-Benz climbed 5.8%. Swiss company Lonza was among the strongest performers, rising 5.4% after surpassing profit expectations, driven by its pharmaceutical manufacturing unit. However, shares of ASM International fell 7.7%, weighing on the tech sector and marking the biggest decline on the Stoxx 600. German software giant SAP also dropped 3.5% after reporting higher Q2 profits due to cost-cutting and increased demand but refraining from raising its full-year earnings forecast. The market rally reflects growing confidence in easing trade tensions, with investors closely watching for further developments in U.S.-Europe trade negotiations. Whatsapp Telegram Email Print more of (Economy)
Saba Yemen
9 hours ago
- Saba Yemen
Japanese Stocks Jump to Highest Level in Year Following Trade Deal with Washington
Tokyo - Saba: Japanese stocks jumped today, Wednesday, to their highest level in about a year after Japan concluded a trade agreement with the United States that reduces tariffs on its cars. The Nikkei index rose by 3.7% in today's trading, benefiting from the rise in shares of automobile manufacturers following news of an agreement that would reduce U.S. tariffs on cars to 15% from the proposed 25%. Mazda Motor shares rose by 17%, while Toyota Motor shares jumped by 13.6%. Shares of South Korean car manufacturers also rose, as the agreement with Japan boosted optimism regarding potential progress in tariff negotiations between South Korea and the United States. Japanese markets witnessed a strong rally today, Wednesday, with the Nikkei 225 index jumping by 3.7%, recording its highest level in months, supported by the performance of the automotive sector, which saw significant gains following the announcement of the trade agreement between Japan and the United States. This major surge came in the wake of the announcement of the details of the trade deal, which stipulates a reduction in U.S. tariffs on Japanese cars from the previously proposed 25% to only 15%. This news had an immediate impact on the shares of major Japanese automakers, with Mazda Motor shares soaring by a remarkable 17%, while Toyota Motor shares jumped by 13.6%. U.S. President Donald Trump announced the trade agreement with Japan last night, Tuesday, stating that it would lead to Japan investing $550 billion in the United States and paying tariffs of 15%. The U.S. President stated in a post on the 'Truth Social' platform that Japan will open up to trade, including cars, trucks, rice, and some agricultural products. Analysts pointed out that the trade agreement reduced risks that had threatened Japan's fragile economy, providing greater room for the Bank of Japan to raise interest rates to combat inflation. Whatsapp Telegram Email Print more of (International)
