Asian equity indices are exhibiting mixed trade in early deals on Monday, following the mostly negative cues from Wall Street on Friday amid worries about the fate of proposed US tax reform. Meanwhile, the British pound fell after the Sunday Times reported that 40 Conservative members of Parliament intend to sign a letter of no-confidence in British Prime Minister Theresa May. Meanwhile, Japan’s Nikkei dropped to a one-week low as many sectors including real estate firms and brokers languished after a recent rally, offsetting gains in companies. Among the other Asian markets, Shanghai, South Korea, Hong Kong, Indonesia and Malaysia are higher, while bucking the trend, South Korea, and Taiwan are in negative territory.
Hang Seng gained 77.34 points or 0.27% to 29,198.26, Straits Times added 3.09 points or 0.09% to 3,423.19, Jakarta Composite increased 17.61 points or 0.29% to 6,039.43, Shanghai Composite rose 10.32 points or 0.3% to 3,442.99, and FTSE Bursa Malaysia KLCI was up by 2.56 points or 0.15% to 1,744.84.
On the flip side, Nikkei 225 declined 145.6 points or 0.64% to 22,535.82, Taiwan Weighted dropped 19.93 points or 0.19% to 10,712.74, and KOSPI Index was down by 11.93 points or 0.47% to 2,531.02.