Asian markets mixed as worries of a global slowdown accelerate – MarketWatch

Shares were mixed in Asia on Monday as investors awaited further developments in trade talks between the U.S. and China.

Major benchmarks were mostly higher, with the Shanghai Composite SHCOMP, -2.56% up 1% to 3,001.51 and the Hang Seng HSI, -0.96% in Hong Kong gaining 0.6% to 28,387.46.

Weaker-than-expected Chinese loan and money supply data raised expectations of further action to spur the slowing economy. The 885.8 billion yuan ($132 billion) in new loans in February was below forecasts and much lower than the 3.23 trillion yuan in new lending in January.

Elsewhere in Asia, Japan’s Nikkei 225 index NIK, -1.54% added 0.5% to 21,125.09 and the S&P ASX 200 XJO, -1.34%  in Australia slipped 0.4%. South Korea’s Kospi SEU, -1.28%  was flat. Shares were lower in Singapore and Jakarta but rose in Thailand and Taipei.

Among individual stocks, Hitachi 6501, +3.03%   and SoftBank 9984, +0.19%   rose in Tokyo trading, while shipping Mitsui OSK Lines 9104, -4.44%   fell. Smartphone component maker AAC 2018, -4.35%   fell in Hong Kong, as did property stocks such as Country Garden Holdings 2007, -5.36%   and China Overseas Land & Investment 0688, -2.79%  . LG Electronics 066570, +0.27%   gained in Korea, and Taiwan Semiconductor 2330, -1.50%   slipped in Taiwan. Energy shares fell in Australia, led by Oil Search OSH, -4.13%  , Beach Energy BPT, -4.76%   and Woodside Petroleum WPL, -2.99%  .

It was a steady start for the week after a wave of selling on Wall Street Friday left the S&P 500 with its worst weekly showing since January and its eighth loss in nine trading sessions.

The sell-off followed a surprisingly weak jobs report and more signs that the global economy is hitting the brakes. On Friday a report showed Chinese exports plunged 20% last month, far

Read More Here...

Bookmark the permalink.