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Asian equity markets gave up an early early Monday in Chinese markets, amid concerns over US-China trade relations and continued weakness in the Wall Street technology sector.
Down since the beginning of the negotiations, the Shanghai Composite
SHCOMP, -2.60%
fell 2.4% and the smallest capitalization Shenzhen Composite
399,106, -2.42%
fell 0.7%.
Hong Kong shares have joined their counterparts in the region, recovering from Friday's global sell-off, though early gains outside have been reduced in minutes. The Hang Seng reference index
HSI, -0.30%
lost 0.2%, after a 1% gain on opening. Chinese property developers such as Sino Land
0083 -3.03%
, fell by more than 3%, while China Resources Land
1109, + 0.19%
abandoned prospects of more than 1%.
HSBC Major Index
0005, + 4.21%
it's demarked, registering an increase of more than 3% after a 32% rise in net profit in the third quarter. Tencent
7:00 -1.85%
fell more than 1%, after weighing on the benchmark Friday, pushing it to a 17-month low. Most Chinese builders listed in Hong Kong have fallen sharply, with Great Wall Motor
2333 -7.64%
lose 7.9%.
Nikkei from Japan
NIK -0.16%
reversed a gain of about 0.6% to fall by 0.2%. Still, some big companies were under pressure, with Toyota
7203, -1.65%
and SoftBank
9984, -1.41%
lower by more than 1%. But Honda
7267, + 0.25%
was slightly up, one day before its earnings report.
Kospi from South Korea
SEU, -1.60%
dropped nearly 1%, with Samsung
005930, + 0.98%
a standout winner, up 1%.
ASX 200 from Australia
XJO, + 1.11%
nearly 1%, led by the energy and finance sectors. The New Zealand reference
NZ50GR, + 0.55%
was slightly up. Reference indices in Taiwan
Y9999, + 0.29%
, Singapore
IST + 0.37%
and Malaysia
FBMKLCI, + 0.01%
posted modest gains too.
– Barbara Kollmeyer contributed to this report
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