Investing.com – Asian stocks were mixed on Monday, as shares in the financial sector led markets lower amid concern over further monetary tightening by China, while markets in Japan remained closed for a national holiday.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.86%, South Korea's Kospi Composite shed 0.26%, while Japan’s Nikkei 225 Index was closed in observance of Coming-of-Age Day.
Earlier in the day, Liu Yuhui, a researcher with the Chinese Academy of Social Science said that China’s central bank should consider a series of interest rate hikes should inflation remain high in the first half of 2011.
Following the remarks, shares in Bank of China Hong Kong plunged 3.34%, HSBC Holdings saw shares drop 1.24%, while shares in China’s largest insurer China Life slumped 1.94%.
Meanwhile, shares in the maker of Hoover vacuum cleaners Techtronic Industries, which counts the U.S. as its biggest market, tumbled 2.58% following Friday’s mixed U.S. employment data, which showed that non-farm payrolls rose less-than-expected, while the unemployment rate fell more-than-expected.
Elsewhere, Australia’s S&P/ASX 200 Index climbed 0.16% after a strong performance by commodity-linked shares overshadowed losses in insurance providers.
Shares in gold producer Newcrest Mining gained 0.60%, oil producer Woodside Petroleum saw shares add 0.59%, while shares in mining group Hudson Resources jumped 6.85% after it reported a significant rare earth mineral finding in Northeastern Australia.
Meanwhile, shares in insurance providers were broadly weaker as additional rain over southeast Queensland during the weekend exacerbated the state’s flooding crisis.
Shares in Australia’s largest insurance group QBE Insurance plunged 2.09% while rivals Insurance Australia saw shares tumble 1.55%.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.50%, France’s CAC 40 futures indicated a decline of 0.45%, the FTSE 100 futures pointed to a decrease of 0.21%, while Germany's DAX futures were down 0.32%.
Later in the day, European Central Bank president Jean-Claude Trichet was to speak at a press conference in Basel.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.86%, South Korea's Kospi Composite shed 0.26%, while Japan’s Nikkei 225 Index was closed in observance of Coming-of-Age Day.
Earlier in the day, Liu Yuhui, a researcher with the Chinese Academy of Social Science said that China’s central bank should consider a series of interest rate hikes should inflation remain high in the first half of 2011.
Following the remarks, shares in Bank of China Hong Kong plunged 3.34%, HSBC Holdings saw shares drop 1.24%, while shares in China’s largest insurer China Life slumped 1.94%.
Meanwhile, shares in the maker of Hoover vacuum cleaners Techtronic Industries, which counts the U.S. as its biggest market, tumbled 2.58% following Friday’s mixed U.S. employment data, which showed that non-farm payrolls rose less-than-expected, while the unemployment rate fell more-than-expected.
Elsewhere, Australia’s S&P/ASX 200 Index climbed 0.16% after a strong performance by commodity-linked shares overshadowed losses in insurance providers.
Shares in gold producer Newcrest Mining gained 0.60%, oil producer Woodside Petroleum saw shares add 0.59%, while shares in mining group Hudson Resources jumped 6.85% after it reported a significant rare earth mineral finding in Northeastern Australia.
Meanwhile, shares in insurance providers were broadly weaker as additional rain over southeast Queensland during the weekend exacerbated the state’s flooding crisis.
Shares in Australia’s largest insurance group QBE Insurance plunged 2.09% while rivals Insurance Australia saw shares tumble 1.55%.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a loss of 0.50%, France’s CAC 40 futures indicated a decline of 0.45%, the FTSE 100 futures pointed to a decrease of 0.21%, while Germany's DAX futures were down 0.32%.
Later in the day, European Central Bank president Jean-Claude Trichet was to speak at a press conference in Basel.