Stocks in the Asia Pacific region started the week on a mixed note as various data and analysis reports come out to give a pointer to the current global economic growth patterns.
Even then, overall trading volumes are likely to remain low given that Japanese markets are closed for the week due to a 10-day holiday that began on April 27 and will last till May 6.
The week begins with shares in China, South Korea and Hong Kong returning mixed postings in the morning sessions.
The shares of mainland China traded mostly lower by the close of the morning session. The Shanghai composite was 0.11% lower, while across the country, trading at Shenzhen composite dropped over 1.2%.
Reportedly, weekly performances for Mainland Chinese markets had fallen to their worst levels over the previous week. That was the lowest since October, as Shanghai composite shaded 5.5%
However, the CSI 300, which tracks China’s largest shares, climbed by 0.78%. Nonetheless, valuations in the MSCI markets remain high at the moment and are above the 10-year and 15-year historical averages.
Last week’s decline was attributed to comments from Politburo, the top decision-making body in China. The agency commented about China’s economic stimulus campaign, noting that the country would continue to offer economic support despite worries that growth in Q1 GDP could spur near-term effects on policies.
South Korea’s Kospi added 0.98%, as the shares of giant Samsung Electronics jumped more than 2% in the lead up to the company’s earnings release scheduled for Tuesday, April, 30.
In Hong Kong, the Hang Seng index climbed by 0.73% as the MSCI Asia advanced 0.38 %. At the same time, Australian equities dropped; with the ASX 200 slipping 0.57% as trading remained mostly lower.
In Singapore, the Straits Times Index (STI) rose 0.94% in the morning session, while the DBS Group saw its share prices surge by 2.74% after the biggest lender in Southeast Asia posted record quarterly profits.
Elsewhere, trading in U.S. stocks saw most of them climb on Friday last week, while the S&P 500 Index hit a record high as several companies go into the release of their earnings reports.