Asian Markets Mixed as Nikkei Surges, hang Seng Declines
TOKYO – Asian stock markets presented a mixed picture Monday, wiht Japan’s Nikkei 225 leading gains while Hong Kong’s Hang Seng experienced a decline. The varied performance comes amid ongoing global economic uncertainty and shifting monetary policies.
The Nikkei 225 jumped 1.22 percent to close at 45,594.27 points around 07:00 local time,fully recovering Friday’s losses. The gains were largely attributed to the Bank of Japan’s (BoJ) decision to hold interest rates steady while signaling plans to gradually sell its holdings of domestic exchange-traded funds (ETFs).
Mainland China’s Shanghai Composite edged up marginally, rising 0.07 percent to 3,822.59 points. In contrast, Hong kong’s Hang Seng fell 1.00 percent to 26,280.72 points.
The BoJ indicated that its planned annual ETF sales represent only a small portion of its overall ETF holdings. governor Kazuo Ueda affirmed Friday that the central bank will continue to raise interest rates if economic conditions and price levels align with forecasts.
Meanwhile, U.S. markets closed higher Friday,with the NASDAQ Composite rising 0.72 percent to a new all-time high of 22,631.48 points. The increase followed a statement from U.S. President Trump describing a “very productive” phone call with Chinese President Xi Jinping, during which they discussed fentanyl, the war in Ukraine, and a potential resolution regarding TikTok.The U.S. House of Representatives also approved a budget law aimed at preventing a government shutdown,though it faces challenges in the Senate.
The price of gold recovered from recent declines, increasing 1.0 percent to $3,683 per troy ounce and remaining nearly 10 percent up for the month, fueled by expectations of U.S. interest rate cuts, geopolitical uncertainty, and central bank purchases.
