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Asian shares struggle to make gains | |
(about 7 hours later) | |
Asian markets started the week largely unchanged on Monday with thin volumes, while Tokyo was closed for a public holiday. | Asian markets started the week largely unchanged on Monday with thin volumes, while Tokyo was closed for a public holiday. |
Australia's ASX 200 index finished up 0.3% to 5,686.90, while South Korea's benchmark Kospi index closed down 0.2% to 2,073.31 points. | |
Weaker commodity prices weighed on Australian resource shares, with gold miners the hardest hit. | |
Gold fell to a five-year low on talks of a US interest rate rise this year. | |
The precious metal fell 4% to hit a low of $1,088.05 (£697) an ounce on Monday after its worst weekly performance since March last week. | |
Investors were also cautious with Greek banks set to reopen later in the day after being closed for three weeks. | Investors were also cautious with Greek banks set to reopen later in the day after being closed for three weeks. |
German Chancellor Angela Merkel has called for swift aid talks so Athens can also lift withdrawal limits. | German Chancellor Angela Merkel has called for swift aid talks so Athens can also lift withdrawal limits. |
China trades mixed | |
Chinese shares traded mixed despite data over the weekend showing that home prices rose for a second consecutive month in June. | |
Average new home prices rose 0.4% from May, when they were up 0.2% and marked the first monthly increase since April last year. | Average new home prices rose 0.4% from May, when they were up 0.2% and marked the first monthly increase since April last year. |
The Shanghai Composite closed up 0.9% to 3,992.11 - erasing earlier losses after the securities regulator denied reports that the government was considering how to end its support measures. | |
The mainland market has stabilized after Beijing pumped hundreds of billions of liquidity into the market through brokerages, mutual funds, and the state margin lender. | |
Hong Kong's Hang Seng index ended down 0.4% to 25,404.81 points. |
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