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Asian Markets Subdued

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Stock markets in Asia were mixed yesterday as they lacked direction from major economies (UK, USA and China) who were closed off due to the observance of their respective national holidays.

However, markets activity after the holidays was subdued as Asian markets opened form negative tones form the US and UK markets.

Japan’s Topix was down 0.2 per cent, with the energy sector down 2 per cent and the worst performer after oil prices slid.

The Nikkei share average fell 0.1 percent to 19,650.57 points.

The mood was sour in the markets as pound fell after polls revealed that Theresa May might not be able to secure a majority in the upcoming elections.

Stocks however were mixed on Wednesday after the watchful trading on account of better than the expected PMI figures from China.

Meanwhile, the Shanghai Stock Exchange edged up by 0.24% or 7.42 points to reach 3,117 points. Other than that, Hong Kong Stock Exchange lost 25.21 points or 0.10 percent to reach 25,676 points.

Meanwhile, the Australian benchmark S&P/ASX 200 increased 0.12 percent or 6.71 points to reach a level of 5,724.6 points.

Decline in oil prices continues to take its toll on the global markets as prices for energy sector in oil importing economies continue to drop.

Posted on: 2017-05-31T13:01:00+05:00

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