Asian Daily Market Review 8.11.19

Asian markets are trading mixed on Friday morning, despite the overnight optimism and gains in Europe and on Wall Street.

On mainland China, the Shanghai Composite is trading up by 0.4%, and the Shenzhen Composite is adding to gains from the previous session as it climbs 0.5% higher. Over in Hong Kong investors are taking their own course, ignoring the gains on the mainland and sending the Hang Seng lower by 0.4% and looking to snap a six-day winning streak after opening to modest gains.

In Japan, the Nikkei has a 0.4% gain thanks to overnight weakness in the Yen, which is now trading above the 109.00 level versus the U.S. dollar. Shares of Softbank are up 0.5%, recovering from losses in the previous session caused by the company’s first quarterly loss in 14 years. Shares of Sony are up 0.7%, and Toyota Motors is rallying 2% higher.

Australia’s S&P/ASX 200 is trading 0.2% lower, giving back some of the gains from the prior session. The big four banks are higher for a second day, with ANZ gaining 0.5%, NAB up 0.3%, while Commonwealth Bank and Westpac are 0.1% higher. Oil stocks are also higher, with Santos adding 1%, Woodside Petroleum gaining 1.6%, and Oil Search 0.8% higher. Miners are weak, especially the gold miners, with Evolution mining down 5.2% and Newcrest Mining losing 4.4%.

In South Korea, the Kospi is 0.2% lower, while Taiwan’s Taiex has a 0.3% loss.

Southeast Asian markets are lower, with Singapore’s Straits Times index falling 0.6% and Malaysia’s KLCI losing 0.1%.

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