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Asia Mixed Bag Monday

Jul 17, 2017 ( via COMTEX) --

Asia markets closed mixed on Monday following the release of better-than-expected China second-quarter Gross Domestic Product.

Japanese markets were shuttered for Marine Day

The Bank of Japan too is expected to keep its ultra accommodative policy unchanged when it meets on Wednesday and Thursday.

Against the yen, the U.S. Dollar was firmer at 112.54 after sinking last Friday. The dollar had traded around the 113 handle for most of last week.

The Hang Seng Index gained 81.35 points, or 0.3%, to 26,470.58

In individual stocks, Hyundai closed down 2.3% following news that unionized workers at the company had voted to go on strike in reaction to a breakdown in wage negotiations. This was the sixth consecutive year that workers have voted to strike

Hong Kong-listed gaming stocks traded in negative territory, with Wynn Macau down 5.2% and Melco International Development off 6% late afternoon.

In economic news, Singapore June non-oil exports rose 8.2% on year compared to a Reuters forecast of 4.1%. The growth in exports was attributed to higher electronics sales.

The Australian dollar edged down to trade at $0.7808 U.S. after climbing for five straight sessions last week.


Strong data from China kept world shares near a record high on Monday, sent copper to a 4-1/2 month peak and left emerging market stocks buyers cheering a near five percent gain in the last five days.

The CSI 300 surrendered 39.53 points, or 1.1%, to 3,663.56

Figures from Beijing showed China's economy grew at a faster-than-forecast 6.9% year-on-year in the second quarter thanks to a pick-up in industrial output and domestic consumption and as investment remained strong.

The jump in copper and other industrial metals, as well as higher oil prices following the Chinese data, meant mining firms led the charge though all sectors shuffled higher.

In other markets

In Taiwan, the Taiex index moved up 13.63 points, or 0.1%, to 10,457.54

In Korea, the Kospi index picked up 10.47 points, or 0.4%, to 2,425.10

In Singapore, the Straits Times Index added 10.81 points, or 0.3 %, to 3,298.24

In New Zealand, the NZX 50 prospered 49.79 points, or 0.7%, to 7,699.57

In Australia, the ASX 200 dropped 9.65 points, or 0.2%, to 5,755.47

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