Asian stock markets were mixed Monday, with markets in China starting a weeklong holiday and Hong Kong closed, leaving equities to trade on local factors over broader themes.
Japan’s Nikkei NIK, +0.52% was up 0.5% as the dollar continues to push higher against the yen USDJPY, +0.21% , hitting levels not seen since last November, and helping Japan’s exporters. Drug, consumer and some electronic stocks led the gains, with drug maker Shionogi 4507, +1.47% up 1.5% and chip maker Tokyo Electron 8035, +2.21% up around 2%. Despite the currency moves, auto-maker stocks were weaker, as Subaru 7270, -2.10% slumped 2%.
Korea’s Kospi SEU, -0.18% quickly gave up initial gains and ended just in the red, with Samsung 005930, -0.22% down 0.2%, off its worst levels of the session by the close.
Following a modestly lower open, Australia’s stock benchmark took a decided turn lower as financials continued to give up the brief Friday afternoon surge seen following the release of the initial report on a misconduct probe of the banking sector. Westpac WBC, -1.54% , which before the report estimated A$235 million ($170 million) of earnings-related impacts from anticipated customer refunds, was down 1.5% to log the biggest drop among Australia’s big four. The ASX 200 XJO, -0.57% fell as much as 0.7% but closed off nearly 0.6%.
Most other Asian markets, such as Taiwan Y9999, +0.41% , Singapore STI, -0.05% and Malaysia FBMKLCI, -0.04% managed slim gains.
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