ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

Nikkei 225 Slides to Monday Loss as Asian Indices Fall

Share On Facebook
share on Linkedin
Print

Despite last week closing with European and U.S. indices mainly up after the U.S. banks posted largely positive earnings as Wall Street opened on Friday, Asian indices are largely down on Monday with Japan’s Nikkei 225 sliding 1%. The Hang Seng sustained a similar loss in Hong Kong with Singapore’s STI heading towards the end of the session with a half percent loss. Australia’s ASX 200 did, however, buck the trend with its heavy weighting towards mining and banking stocks, which performed well, helping the index begin the week on a positive note.

A strengthened yen was the main drag on the Nikkei 225 today, though nervousness that the UK will announce plans for a ‘hard Brexit’ approach when Prime Minister Theresa May speaks tomorrow also contributed to subdued sentiment. Metals and mining companies showed strong gains earlier last week as steel prices rose on expectations that Chinese output is set to decline with a crackdown on illegal production facilities in the country and base metals prices also increased on Chinese demand. However, the market obviously feels some of those gains were overly generous and today’s biggest faller on the Nikkei was Nippon Steel and Sumitomo Metal Corp., which finished 4.14% down. Pacific Metals showed the third largest loss, down 2.76%. The second heaviest faller was textiles and materials manufacturer Unitika Ltd., which suffered from a stronger yen to lose 3.53%.

The big automobile manufacturers were largely down with Nissan suffering a 0.6% slide and Toyota 0.76%. Honda closed the session flat with an incremental 0.03% loss. Toshiba had a heavy 2.19% slide while in the oil and gas industry bellwether Inpex lost 1.65%.

While Monday didn’t have any major gainers, Ube Industries rose 1.14%, the session’s best performance, semiconductor company Sumco Corp. 0.85% and industrial engineers Chiyoda 0.73%.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This article was provided by Windsor Brokers. Click here for more information.


This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com