Asian markets are exhibiting mixed trend in the early deals on Monday following the lackluster cues from Wall Street on Friday. News that the G20 finance ministers meeting in Germany during the weekend failed to agree on a commitment to keep global trade free dampened investors sentiment. Meanwhile, Hong Kong stocks edged higher after the US Federal Reserve’s dovish stance on future interest rate increases sparked a rally late last week. Among the other Asian markets, Indonesia, South Korea, Singapore and Taiwan are also lower. Bucking the trend, Shanghai, and Malaysia are modestly higher. The Japanese market is closed for the Vernal Equinox holiday.
KOSPI Index declined 11.81 points or 0.55% to 2,152.77, Taiwan Weighted dipped 10.33 points or 0.10% to 9,898.36, Jakarta Composite slipped 14.06 points or 0.25% to 5,526.37, and Straits Times was down by 17.52 points or 0.55% to 3,151.86.
On the flip side, Shanghai Composite gained 2.13 points or 0.07% to 3,239.57, FTSE Bursa Malaysia KLCI added 3.30 points or 0.19% to 1,748.50 and Hang Seng was up by 137.98 points or 0.57% to 24,447.91.