Shares in Asia Pacific were mixed on Monday, with Japan stocks leading gains among the region’s major markets as investors monitored political developments in the country.
In Japan, the Nikkei 225 recovered 257.11 points, or 1.1%, to 23,139.76, after losses on Friday as longstanding Prime Minister Shinzo Abe announced a surprise resignation on Friday due to health reasons. Developments in Japanese politics continued to be watched by investors on Monday, as the search for the country’s new prime minister continues.
The Japanese yen traded at 105.69 per U.S. dollar, after strengthening sharply from levels above 106.5 against the greenback late last week.
In Hong Kong, the Hang Seng dropped 245.01 points, or 1%, to 25,177.05.
Shares of Japanese trading firms Mitubishi Corp., Itochu Corp., Marubeni Corp., Mitsui & Co. and Sumitomo Corp. soared on Monday after Warren Buffett announced that his firm Berkshire Hathaway has acquired a slightly more than 5% stake in the companies.
Shares of Mitsubishi jumped 7.7% while Itochu gained 4.2%. Marubeni soared 9.5% and Mitsui gained 7.4%, Sumitomo rose 9.1%.
The situation surrounding the ongoing coronavirus pandemic will also likely be watched by investors, with data from Johns Hopkins University showing the number of reported COVID-19 cases worldwide surpassing 25 million.
India, among the countries with the highest number of reported virus cases, recently registered the biggest single-day spike globally since the pandemic began, according to the Associated Press.
The Australian dollar changed hands at $0.7351 after rising from levels below $0.726 last week.
CHINA
The CSI 300 slid 28.06 points, or 0.6%, to 4,816.21.
China announced Monday that manufacturing activity expanded in August. The official manufacturing Purchasing Managers’ Index (PMI) for that month came in at 51.0, according to the National Bureau of Statistics. That was below expectations of a reading of 51.2 by analysts.
PMI readings above 50 signify expansion while those below that mark represent contraction. The readings are sequential and indicate on-month expansion or contraction. Chinese economic data has been watched by investors for clues on the state of the country’s recovery from the coronavirus pandemic.
In other markets
In Singapore, the Straits Times Index shed 7.12 points, or 0.3%, to 2.532.21.
In Korea, the Kospi moved lower 27.63 points, or 1.2%, to 2,326.17.
In Taiwan, the Taiex index jettisoned 137.4 points, or 1%, to 12,591.45.
In New Zealand, the NZX 50 subtracted 155.96 points, or 1.3%, to 11,937.56.
In Australia, the ASX 200 fell 13.35 points, or 0.2%, to 6,060.46.
