Investing.com – Asian stocks were mixed on Monday, amid low trading volume, as investors remained cautious ahead of Tuesday’s U.S. Federal Reserve rate decision, while markets in Japan were closed due to a bank holiday.
Hong Kong's Hang Seng Index was down 0.10%, South Korea's Kospi Composite gained 0.29%, while Japan’s Nikkei 225 Index was closed for Respect for the Aged Day.
In Hong Kong, shares in the banking sector led declines amid lingering concerns that China could introduce tougher banking regulations. Shares in HSBC Holdings fell 0.87%, Bank of China stocks shed 0.49%, while Chinese insurers Ping An declined 0.31%.
Elsewehere, China’s Shanghai Composite Index shed 0.38%, as fresh fears were sparked over a slowdown in the nation’s economic growth, after global financial firm Morgan Stanley said in a report that “China’s potential economic growth is set to slow”.
Following the report, shares in wire manufacturer Jiangxi Xinxin Industrial Co. tumbled 1.51%, while Beijing-based property developer Poly Real Estate Group slid 1.91%.
Meanwhile, Australia’s S&P/ASX 200 Index was down 0.16%, as miners led declines. Shares in the world’s largest miners BHP Billiton declined 0.31%, Rio Tinto shed 0.73% while stocks in Newcrest Mining fell 0.27%.
In Europe, equity markets opened higher. The EURO STOXX 50 was up 0.48%, France’s CAC 40 rose 0.63%, the FTSE 100 increased 0.70% and Germany's DAX gained 0.32%.
Later in the day, the U.S. was to publish industry data on home sales.
Hong Kong's Hang Seng Index was down 0.10%, South Korea's Kospi Composite gained 0.29%, while Japan’s Nikkei 225 Index was closed for Respect for the Aged Day.
In Hong Kong, shares in the banking sector led declines amid lingering concerns that China could introduce tougher banking regulations. Shares in HSBC Holdings fell 0.87%, Bank of China stocks shed 0.49%, while Chinese insurers Ping An declined 0.31%.
Elsewehere, China’s Shanghai Composite Index shed 0.38%, as fresh fears were sparked over a slowdown in the nation’s economic growth, after global financial firm Morgan Stanley said in a report that “China’s potential economic growth is set to slow”.
Following the report, shares in wire manufacturer Jiangxi Xinxin Industrial Co. tumbled 1.51%, while Beijing-based property developer Poly Real Estate Group slid 1.91%.
Meanwhile, Australia’s S&P/ASX 200 Index was down 0.16%, as miners led declines. Shares in the world’s largest miners BHP Billiton declined 0.31%, Rio Tinto shed 0.73% while stocks in Newcrest Mining fell 0.27%.
In Europe, equity markets opened higher. The EURO STOXX 50 was up 0.48%, France’s CAC 40 rose 0.63%, the FTSE 100 increased 0.70% and Germany's DAX gained 0.32%.
Later in the day, the U.S. was to publish industry data on home sales.