Asia Markets

Asia-Pacific stocks little changed; Hong Kong sees shortened trading day after earlier pause

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Key Points
  • Official data released Sunday showed profits at China's industrial firms rose 36.4% in May as compared with a year earlier. That was a slowdown from the 57% year-on-year growth posted in April.
  • Trading in Hong Kong's markets resumed Monday afternoon in the city after an earlier severe weather warning was lowered.
  • Hong Kong Exchanges and Clearing (HKEX) announced earlier Monday that the morning trading sessions of both securities and derivatives markets, including Stock Connect trading, were delayed due to a black rainstorm warning.

SINGAPORE — Stocks in Asia-Pacific were muted on Monday, as Hong Kong saw a shorter trading day following a morning pause due to severe weather conditions.

The Hang Seng index slipped fractionally on Monday to 29,268.30. Trading in Hong Kong's markets resumed Monday afternoon in the city after an earlier severe weather warning was lowered.

Hong Kong Exchanges and Clearing announced earlier on Monday that the morning trading sessions of both the securities and derivatives markets, including Stock Connect trading, was delayed due to a black rainstorm warning.

Black rainstorm signals are issued as a warning of heavy rain that is likely to bring about flooding on the roads, leading to traffic congestion.

Mixed Asia-Pacific markets

Mainland Chinese stocks closed mixed, with the Shanghai composite mildly lower at 3.606.37 while the Shenzhen component gained 0.975% to 15,150.17.

Data released Sunday by China's National Bureau of Statistics showed profits at China's industrial firms rose 36.4% in May as compared with a year earlier. That was a slowdown from the 57% year-on-year growth posted in April.

Elsewhere, the Nikkei 225 in Japan slipped fractionally to finish the trading day at 29,048.02 while the Topix index gained 0.15% to close at 1,965.67. South Korea's Kospi closed little changed at 3,301.89.

Australia stocks were little changed, as the S&P/ASX 200 closing largely flat at 7,307.30.

MSCI's broadest index of Asia-Pacific shares outside Japan was around the flatline.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.743 after a decline earlier this month from above 92.1.

The Japanese yen traded at 110.68 per dollar after last week's weakening from below 110.4 against the greenback. The Australian dollar changed hands at $0.7583 after rising last week from below $0.756.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.3% to $75.95 per barrel. U.S. crude futures sat 0.22% lower at $73.89 per barrel.