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Asian shares struggle to make gains | |
(about 7 hours later) | |
Asian markets experience mixed fortunes, as Wall Street's performance on Friday failed to provide a strong lead and with investors cautious ahead of US jobs figures later in the week. | |
In Japan, the benchmark Nikkei 225 index closed down 1.3% at 17,645.11. | |
Shares in exporters were hit as the yen strengthened. | |
A stronger currency is bad for the country's exporters as it makes it more expensive for them to sell their goods overseas. | |
Japanese investors were also wary ahead of the Bank of Japan's quarterly Tankan survey, due on Thursday. | |
China data | |
Shares in mainland China headed lower after government data showed that industrial profits continued to decline in August. | |
Industrial profits were down 8.8% from a year ago, compared with a fall of 2.9% in July. | |
Investors are also awaiting both official and private manufacturing surveys for September on Thursday for insight into the depth of the slowdown in the world's second largest economy. | Investors are also awaiting both official and private manufacturing surveys for September on Thursday for insight into the depth of the slowdown in the world's second largest economy. |
The Shanghai Composite fell initially, but then recovered to finish the day up 0.27% at 3,100.76. | |
Markets in Hong Kong, Taiwan and South Korea were closed for public holidays. | Markets in Hong Kong, Taiwan and South Korea were closed for public holidays. |
In Australia, the S&P/ASX 200 index closed up 1.4% at 5,113.50. | |
Shares of telecom Vocus Communications fell more than 7% after it announced plans to buy rival M2 for $1.3bn (£855m) in a deal to create Australia's fourth-largest internet provider. |
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