Brexit Worries Make for Mixed Asian Markets

Asia Pacific markets traded mixed on Monday as Brexit developments over the weekend created further uncertainty over the United Kingdom’s impending departure from the European Union.

The Nikkei 225 gained 56.22 points, or 0.3%, to 22,548.90.

The Japanese yen, which is considered a safe-haven currency, traded at 108.50 per U.S. dollar, weakening from around 108.28

In Hong Kong, the Hang Seng Index regained 6.1 points to 26,725.68.

The Australian dollar changed hands at $0.6861.

U.K. Prime Minister Boris Johnson was thwarted by a cross-party group of politicians in Parliament who voted to postpone the “meaningful vote” on his new Brexit deal. That forced Johnson to ask Brussels for an extension to the current October 31 departure deadline, but EU leaders don’t necessarily have to accept it.

CHINA

The CSI 300 recaptured 11.46 points, or 0.3%, to 3,880.84

The U.S. and China made ‘substantial progress’ at trade talks, according to Chinese Vice Premier Liu He, Reuters reported. After reaching a partial trade deal earlier this month, Beijing and Washington are working to pen a written agreement.

Both sides have applied tariffs on billions of dollars worth of each other’s products, which have roiled global markets, created business uncertainty and dented economic outlooks around the world. China said last week its economy grew by 6% on-year in the third quarter, which is believed to be the slowest GDP gain for the country in at least 27.5 years.

In other markets

In Taiwan, the Taiex restored 3.93 points to 11,184.15

In Korea, the Kospi added 4.15 points, or 0.2%, to 2,064.84

In Singapore, the Straits Times Index recovered 24.99 points, or 0.8%, to 3,139.15

In New Zealand, the NZX 50 deleted 4.38 points to 11,062.75

In Australia, the ASX 200 moved higher 2.82 points to 6,652.51