Asia equities see gains as US, Europe markets decline

Most equities markets in the Asia-Pacific region saw gains on Monday. Of the major markets, only the Sensex was lower, falling 0.58 percent to 14,080.14. Records were set on several indices. In South Korea, the Kospi index closed at 1,806.88, a gain of 2 percent and the first time the index exceeded the 1,800 level. The Straits Times index in Singapore closed at 3,623.79, while in Hong Kong the Hang Seng index added 2.69 percent to 12,582.89. Elsewhere, the Shanghai Composite was 2.9 percent higher to 4,253.35. In Australia, the Sydney Ordinaries were up 0.58 percent to 6,365.3. In Tokyo, The Nikkei 225 added 1 percent to 18,149.52, while the Topix index gained 0.9 percent to 1,788.39. Yen weakness helped gains in the electronics and other export focused sectors, while real estate and video game makers also advanced during the session.

Elsewhere, most markets saw declines. The New York markets were slightly lower at midday, with the Dow Jones Industrial Average and the Nasdaq Composite each 0.1 percent lower, to 13,631.44 and 2.625.12 respectively, while the S&P 500 was down a fraction to 1,532.4. The mining sector was mixed on bids rumors, while the media second declined due to bids speculation. The oil and gas sector was also lower at mid-session.

European markets were down on the session with the exception of the Dax, which dropped 0.07 percent to 8,036.12 in Frankfurt. The FTSE Eurofirst 300 dropped 0.34 percent to 1,620.28, while the CAC-40 fell 0.3 percent to 6,087.15 in Paris and in Madrid the IBEX was 0.97 percent lower to 15,103.6. The semiconductors sector was higher on the continent, as was steel. The construction sector also saw gains. Automobile manufacturers and engineering groups were mixed, while tire makers declined.

In London, the FTSE 100 and the FTSE 250 each dropped 0.43 percent, to 6,703.5 and 11,947.5 respectively. The best performance on the 100 was in the chemicals sector, on news of a rejected bid. Brewers, the media sector, and aircraft engine builders all saw gains, while companies dealing in property investment and house building declined as investors worried about the effect more interest rate hikes might have on business.

Story link: Asia equities see gains as US, Europe markets decline