Asian markets ended mixed on Monday after the United States and China postponed virtual trade talks planned for this weekend, while US President Donald Trump issued an executive order on Friday forcing ByteDance, the Chinese company behind TikTok, to sell-off or spin-off its US social media business in 90 days. Chinese shares ended higher after the Chinese central bank (PBOC) injected liquidity into the financial system. The PBOC extended 700 billion yuan of one-year loans via its medium-term lending facility on Monday, up from the two batches of MLF loans worth a combined 550 billion yuan that were due to expire in August, albeit at the same rate of 2.95%.However, Japanese shares ended down after data showed the country’s economy plummeted an annualized 27.8 percent in the second quarter of 2020, missed expectations for a decline of 27.2 percent following the 2.2 percent drop in the previous three months. Markets in South Korea and Indonesia were closed for holidays.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,438.80 | 78.70 | 2.34 |
Hang Seng | 25,347.34 | 164.33 | 0.65 |
Jakarta Composite | - | - | - |
KLSE Composite | 1,560.74 | -3.85 | -0.25 |
Nikkei 225 | 23,096.75 | -192.61 | -0.83 |
Straits Times | 2,571.55 | -9.77 | -0.38 |
KOSPI Composite | - | - | - |
Taiwan Weighted | 12,956.11 | 160.65 | 1.26 |
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