Asian stocks closed lower on Monday’s session, a calm trading session due to the Japanese Marine Day Holiday.

Asian stocks closed lower on Monday’s session, a calm trading session due to the Japanese Marine Day Holiday.

July 16, 2018 0 By Ali Hwary

Asian stocks closed lower on Monday’s session, a calm trading session due to the Japanese Marine Day Holiday, affected by the economic data that was released by China that came in line with expectations thus indicating slow down in the economy.

Over in the Chinese Mainland, the Shanghai Composite fell by 0.61 percent to close the session at 2,813.91 pressured by mainly Financials sector that fell 1.69 percent. Furthermore, the Shenzhen Composite moderately fell by 0.101 percent to end the session in the red at 1,602.83 downed by Financials and Basic Materials sectors.

Hong Kong’s main benchmark Hang Seng rose by 0.05 percent to trade at 28,539.66 at the session’s close, supported by gains in the Consumer Cyclicals and Utilities which rose by 1.34 percent and 0.65 percent respectively.

On the other hand, the South Korean benchmark KOSPI dropped 0.39 percent to end the session at 2,301.99 where the losses in Financials, Consumer Non-Cyclicals and Technology sectors were not offset by the significant gain in Energies sector of 3.55 percent. Shinil Industrial Co Ltd was the best performer in the session, surging 30.00 percent followed by Comtec Systems Co Ltd which added 9.36 percent.

 

Australian Stock Market

Australian shares declined at the close of Monday’s session as the Australian main index closed the session in the red at 6,241.500 due to significant losses in the Healthcare industry that fell by 1.70 percent.

Meanwhile, the best performers of the session on the S&P/ASX 200 were G8 Education Ltd, which surged by 5.46  percent to close the session at 2.510. Furthermore, Inghams Group Ltd added 4.53 percent or to end the session at 3.920, and Sigma Healthcare Ltd rose by 4.21 percent to close the session at 0.495.

On the other hand, the weakest performers of the session were Orocobre Ltd and Evolution Mining Ltd droping by 4.80 percent and 4.23 percent respectively.

Among the country’s major banks, Westpac, Commonwealth Bank, ANZ banking and National Australia Bank ended lower in a range of 0.6 percent to one percent.

Falling gold prices to a seven-month low has weakened gold miners, were Evolution Mining lost more than one percent, and Newcrest Mining fell by one percent.

In the forex market, the Australian Dollar rose against the U.S. Dollar traded at 0.7430 AUDUSD at 12:15 GMT.

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