Asian markets rallied on Monday following last week’s sharp sell-off on Wall Street.
Japan’s Nikkei 225 NIK,
Hong Kong’s Hang Seng Index HSI down 0.5%,
Decreased 0.4%. Shanghai Composite SHCOMP,
Small-cap Shenzhen Composite 399106, down 1.9%
Fell 2.2%.
Kospi of South Korea 180721,
0.7%, while the benchmark index in Taiwan Y9999,
, Singapore STI,
And Indonesia JKIDX,
Were mixed. Australia S & P / ASX 200 XJO, Australia
Increased 0.3%.
The data showed that after the second strong increase in July, China’s August exports were stronger than expected from the previous year.
Chinese chip manufacturer Semiconductor Manufacturing International International Corp. Shares of 981.
Hong Kong’s trade has been shaken by a Wall Street Journal report that the Trump administration is considering an export ban against it, as it is with its partner chip maker Huawei Technologies.
Softbank Group 9984,
Shares fell below%% on Monday after a Wall Street Journal report, while a Japanese investment group bought a variety of options worth worth 1 billion, tied to about 50 50 billion in individual tech stocks.
U.S. Markets are closed on Mondays for Labor Day holiday. Last week, tech-heavy Nasdaq Composite COMP,
Weekly decline of 3.3% was the biggest since March, when the Dow Jones Industrial Average DJIA,
1.8% and S&P 500 SPX,
Lost 2.3%.
“We have seen the latest sell-off in profitability after a strong run,” Fischer Mark Hafeel, chief investment officer at UBS Global Wealth Management, said in a note on Friday.
The stock has made a weak start after a two-day slide for global equity since June, Stephen Ines, Exxerp’s chief global markets strategist, wrote in a note on Monday. “In the short term, with U.S. markets closed today, it should remain an extremely cozy affair, with the possibility of a bounce being sold by design.”
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