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Mixed Monday for Asian markets | |
(about 1 hour later) | |
Japanese markets had a rollercoaster start to the week, as a rally before midday fizzled out at the close of the trading day. | |
The benchmark Nikkei 225 ended the Monday session down 0.25% or 40.89 points at 16,123. | |
A strong Japanese yen dented stocks of exporting companies, hitting carmakers hard. | |
Shares in Toyota, Nissan and Honda all closed lower. | |
But shares of electronics maker Sharp jumped more than 5% after a takeover deal with Taiwan's Foxconn was finalised at the weekend. | |
In South Korea, the main index, the Kospi, managed a slight gain of 0.27% or 5.4 points to close in the plus at 1,978.97. | |
It was also an up-and-down day for stocks in Australia. | |
The benchmark S&P/ASX 200 ended the day in negative territory, down by 0.08%, closing the Monday session at 4,995. | |
Spotlight on rates | Spotlight on rates |
The Reserve Bank of Australia, the country's central bank, will hold its monthly meeting on interest rates on Tuesday. | The Reserve Bank of Australia, the country's central bank, will hold its monthly meeting on interest rates on Tuesday. |
The majority of economists polled by Reuters are expecting the central bank to keep its key lending rate on hold at its current record low of 2%. | The majority of economists polled by Reuters are expecting the central bank to keep its key lending rate on hold at its current record low of 2%. |
The central bank in India will also hold its monthly meeting on interest rates on Tuesday. Low inflation in India could be a factor in the Reserve Bank of India's future policy on rates. | The central bank in India will also hold its monthly meeting on interest rates on Tuesday. Low inflation in India could be a factor in the Reserve Bank of India's future policy on rates. |
Markets in China were shut on Monday for a national holiday - Tomb Sweeping Day. Trade will resume on Tuesday. | Markets in China were shut on Monday for a national holiday - Tomb Sweeping Day. Trade will resume on Tuesday. |