Thu, 25 Apr 2019

Nikkei 225 leads Asian stock markets lower

Finance desk
15 Oct 2018, 17:06 GMT+10

SYDNEY, Australia - Shares in Asia were generally lower on Monday.

The biggest loser was Japan's Nikkei 225. On Saturday U.S. Treasury Secretary Steven Mnuchin, at a conference held as part of the IMF annual meetings in Bali, Indonesia, said future trade deals the U.S. would negotiate would address currency issues, a subject that was causing coincern in Tokyo, as the Bank of Japan quite offten intervemnes in foreign exchange markets to smooth volatility in the yen.

The Nikkei 225 closed the day down 423.36 points or 1.87% at22,271.30.

The Japanese yen rose from around 112.30 to 112.01, approaching a 1-month high.

The Japanese industrial production data for August meantime was revised down sharply, the growth now perceived to be0.2% , versus the previous estimate of 0.07%.

The Australian All Ords was off 58.60 points or 0.98% at5,948.00.

In Hong Kong the Hang Seng dived 321.47 points or 1.25% to 25,480.02.

In Indonesia, the Jakarta Composite went against the trend, adding 5.274 points or 0.09% to 5,761.764.

The main concern for investorsremains the U.S. China trade impasse, and the tit-for-tattariffs.

"The repercussions of trade tensions that had plagued global equity markets persist," Jingyi Pan, market strategist at IG in Singapore told The Associated Press.

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