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Asian markets end mixed on Monday

20 May 2019 Evaluate

Asian markets ended mixed on Monday as trade worries persisted, offsetting a surprise election victory for Australia's pro-coal ruling Coalition and upbeat Japanese GDP data. Markets remained fragile after Chinese foreign minister Wang Yi told US Secretary of State Mike Pompeo in a call that negotiating on an equal footing is the only way to solve pressing trade issues. Chinese shares closed lower as trade war fears simmered. China's offshore yuan strengthened after the country's central bank said that it would maintain the stability of its yuan within a reasonable and balanced range. Further, Japanese shares ended higher as Q1 GDP data topped forecasts. Growth in the nation's economy unexpectedly accelerated at an annualized 2.1 percent in the first quarter, defying expectations for a 0.2 percent contraction. However, the surprise expansion was mostly caused by imports declining faster than exports. Meanwhile, the markets in Malaysia and Singapore were closed in observance of Vesak Day.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,870.60
-11.70
-0.41

Hang Seng

27,787.61
-158.85
-0.57

Jakarta Composite

5,907.12
80.25
1.38

KLSE Composite

-

-

-

Nikkei 225

21,301.73
51.64
0.24

Straits Times

-

-

-

KOSPI Composite

2,055.71
-0.09

--

Taiwan Weighted

10,398.41
14.30
0.14

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