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Asia shares down on poor US week | Asia shares down on poor US week |
(about 1 hour later) | |
Shares across Asia were in negative territory in early trading on Monday after a poor week on Wall Street. | Shares across Asia were in negative territory in early trading on Monday after a poor week on Wall Street. |
Markets also opened after manufacturing activity in the world' second largest economy, China, was at a 15-month low at the end of last week. | Markets also opened after manufacturing activity in the world' second largest economy, China, was at a 15-month low at the end of last week. |
The mainland's benchmark index, the Shanghai Composite, was down 1.4% to 4,015.89 points. | The mainland's benchmark index, the Shanghai Composite, was down 1.4% to 4,015.89 points. |
Hong Kong's Hang Seng index traded 1.6% down at 24,731.69 points. | Hong Kong's Hang Seng index traded 1.6% down at 24,731.69 points. |
In Japan, the country's benchmark Nikkei 225 index fell 0.4% to 20,471.20. | |
Investor mood was also held back by the yen strengthening against the US dollar, making exports more expensive. | Investor mood was also held back by the yen strengthening against the US dollar, making exports more expensive. |
Traders are looking at a week of earnings, with Cannon and online broker Monex to report results on Monday. | Traders are looking at a week of earnings, with Cannon and online broker Monex to report results on Monday. |
Nissan, Panasonic and Nintendo will be among the big names reporting results later in the week. | Nissan, Panasonic and Nintendo will be among the big names reporting results later in the week. |
In South Korea, the Kospi index was down by 0.3% to 2,040.56 points. | In South Korea, the Kospi index was down by 0.3% to 2,040.56 points. |
Daewoo Shipbuilding shares heavily fluctuated in early trade dropping as much as 4% on media reports suggesting poor earnings for its second quarter results. | Daewoo Shipbuilding shares heavily fluctuated in early trade dropping as much as 4% on media reports suggesting poor earnings for its second quarter results. |
Australian shares traded flat with sentiment weighed down by the ongoing slump in commodity prices. | Australian shares traded flat with sentiment weighed down by the ongoing slump in commodity prices. |
The country's ASX/200 remained unchanged at 5,561.70 points. | The country's ASX/200 remained unchanged at 5,561.70 points. |