Korean Shatters Hit Hard in Mixed Session

Asia-Pacific markets traded mixed on Monday as investors kept an eye on the coronavirus pandemic and rising interest rates in the U.S.

Markets in Japan were shuttered for holiday. The Japanese yen changed hands at 115.71 per U.S. dollar, weakening from an earlier level around 115.53

The Hang Seng index in Hong Kong gained 253.16 points, or 1.1%, to 23,746.54.

Shares of China Life Insurance in Hong Kong fell 1.6% in afternoon trade. Reuters reported that China’s Central Commission for Discipline Inspection said on Saturday that it had placed China Life Chair Wang Bin under investigation. The company’s Shanghai-listed shares fell around 1.7%.

Shimao Group shares jumped 19.2%, pulling back slightly from an earlier gain of more than 23%. That followed after Chinese business publication Caixin reported the embattled developer is selling all of its real estate projects, both residential and commercial.

Australian markets dipped slightly, as the heavily weighted financials subi-ndex finished near flat, but the energy market advanced 1.1% and materials gained 1.4%.

Shares of major miners rose: Rio Tinto added 2.3%, Fortescue was up 1.3% and BHP added 2.4%.

The Australian dollar traded up 0.14% at $0.7188.

In other markets

In China, the CSI 300 added 21.68 points, or 0.5%, to 4,844.05.

In Korea, the Kospi index dished off 28.17 points, or 1%, to 2,926.72.

In Taiwan, the Taiex index revived 69.92 points, or 0.4%, to 18,239.38.

In Singapore, the Straits Times Index moved higher 21.79 points, or 0.7%, to 3,227.05.

In New Zealand, the NZX 50 fell 77.71 points, or 0.6%, to 12,892.94.

In Australia, the ASX 200 retreated 6.28 points, or 0.1%, at 7,447.07.