Investing.com - Asian stock markets were mostly higher during late Asian trade on Monday, but shares in Japan came under pressure as market players continued to monitor movements in the currency market.
During late Asian trade, Hong Kong's Hang Seng Index was up 0.4%, Japan’s Nikkei 225 Index ended down 0.9%, while Australia’s ASX/200 Index remained closed for a public holiday.
In Tokyo, the Nikkei initially opened higher, breaching the key 11,000-mark for the first time since April 2010, before reversing gains to trade lower as market players took profits on recent outperformers after the yen turned lower against the U.S. dollar.
The Nikkei has rallied nearly 22% since mid-November, as hopes for more aggressive monetary stimulus from the Bank of Japan under new Prime Minister Shinzo Abe underpinned sentiment.
The greenback traded at 90.67 against the yen, moving off a 32-month low of 91.25 hit earlier in the session. A stronger yen reduces the value of overseas income at Japanese companies when repatriated.
On the downside, index heavyweight Fanuc saw shares tumble 7% after the industrial robot maker lowered its operating profit forecast by 13% to JPY178 billion.
Also in earnings news, Advantest shares lost 5.3% after the Nikkei newspaper reported the company was expected to miss its operating profit forecast due to weaker demand from Apple suppliers.
Elsewhere, in Hong Kong, the Hang Seng edged up to hit a fresh 21-month high, as strong gains in mainland China markets lifted sentiment.
Index heavy HSBC Holdings saw shares climb 1% amid hopes that the situation in the euro zone is stabilizing. Shares of HSBC command a 15% weighting on the Hong Kong benchmark, making it the single largest constituent on the index.
On the downside, shipping giant China Cosco Holdings saw shares retreat 5.4% after warnings of a “significant net loss” for 2012.
Looking ahead, European stock market futures pointed to a flat open. The EURO STOXX 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 futures were little changed, London’s FTSE 100 futures were flat, while Germany's DAX futures pointed to a flat open.
The U.S. was to release government data on durable goods orders, as well as private sector data on pending home sales later in the trading day.
During late Asian trade, Hong Kong's Hang Seng Index was up 0.4%, Japan’s Nikkei 225 Index ended down 0.9%, while Australia’s ASX/200 Index remained closed for a public holiday.
In Tokyo, the Nikkei initially opened higher, breaching the key 11,000-mark for the first time since April 2010, before reversing gains to trade lower as market players took profits on recent outperformers after the yen turned lower against the U.S. dollar.
The Nikkei has rallied nearly 22% since mid-November, as hopes for more aggressive monetary stimulus from the Bank of Japan under new Prime Minister Shinzo Abe underpinned sentiment.
The greenback traded at 90.67 against the yen, moving off a 32-month low of 91.25 hit earlier in the session. A stronger yen reduces the value of overseas income at Japanese companies when repatriated.
On the downside, index heavyweight Fanuc saw shares tumble 7% after the industrial robot maker lowered its operating profit forecast by 13% to JPY178 billion.
Also in earnings news, Advantest shares lost 5.3% after the Nikkei newspaper reported the company was expected to miss its operating profit forecast due to weaker demand from Apple suppliers.
Elsewhere, in Hong Kong, the Hang Seng edged up to hit a fresh 21-month high, as strong gains in mainland China markets lifted sentiment.
Index heavy HSBC Holdings saw shares climb 1% amid hopes that the situation in the euro zone is stabilizing. Shares of HSBC command a 15% weighting on the Hong Kong benchmark, making it the single largest constituent on the index.
On the downside, shipping giant China Cosco Holdings saw shares retreat 5.4% after warnings of a “significant net loss” for 2012.
Looking ahead, European stock market futures pointed to a flat open. The EURO STOXX 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 futures were little changed, London’s FTSE 100 futures were flat, while Germany's DAX futures pointed to a flat open.
The U.S. was to release government data on durable goods orders, as well as private sector data on pending home sales later in the trading day.