Mainland Chinese stocks rallied to their highest close in more than five years on Monday, the first trading day of the New Year, led by strength in the energy and real-estate sectors.
In Japan, investors returned from holiday to send the Nikkei 225 lower 42.06 points, or 0.2%, to 17,408.71. The yen strengthened against the U.S. dollar to ¥120.33, from ¥120.48 in the prior session.
In Hong Kong, the Hang Seng index dipped 136.50 points, or 0.6%, to 23,721.32
Australian indices notched a modest gain, with Rio Tinto Ltd. rising 0.3%, after the Australian Financial Review reported the mining company will announce a $4-billion share-buyback program next month.
CHINA
The Shanghai CS300 index climbed 107.84 points, or 3.1%, to 3,641.54
Coal-related shares soared after several provincial governments adjusted their resource-tax rates as part of nationwide reforms of coal tax, aimed at reducing the burden on coal enterprises. Wintime Energy Co., Ltd. Shaanxi Coal Industry Co., Ltd. and Yang Quan Coal Industry Group all rose by the 10% daily limit.
Property shares also saw strong gains, as the Beijing government increased the cap on housing loans. Poly Real Estate Group Co. leapt 10%, Metro Land Corp. Ltd. climbed 5.5% and Gemdale Corp. advanced 3.4%.
In other markets;
The Kospi in Korea dipped 10.69 points, or 0.6%, to 1,915.75
In Taiwan, the Taiex index lost 33.15 points, or 0.4%, to 9,274.11
In Singapore, the Straits Times Index slid 42.31 points, or 1.3%, to 3,328.28
New Zealand’s NZX 50 index took on 34.32 points, or 0.6%, to 5,602.60
Australia’s S&P/ASX 200 gained 14.40 points, or 0.3%, to 5,450.33.
