Asian shares open the week in mixed mood

Asian shares open the week in mixed mood

Tokyo: Asian shares were mixed on Monday, with Japan’s key index snapping a two-day losing streak as investors hunted for bargains.

The Nikkei 225 stock market added 0.4% to 10,313.46.

Honda Motor Co. led the country’s top three automakers higher after a ratings upgrade from Nomura Securities Co. The issue jumped 3.2%, while rival Toyota Motor Co. added 1.2%.

Elsewhere, Australia’s S&P/ASX 200 rose 0.2% to 4,767.00 and the Shanghai Composite index was up 0.1% at 2,716.89. Benchmarks in Singapore and New Zealand also gained ground.

South Korea’s Kospi lost 0.1% to 2,069.54 as the index fluctuated between positive and negative. Hong Kong’s Hang Seng index slipped 0.1% to 23,858.35.

Wall Street ended the week Friday on a mixed note. The Dow Jones industrial average rose 49.04 points, or 0.4%, to close at 11,871.84, helped by strong profits at General Electric Co. The Standard & Poor’s 500 index gained 3.09 points, or 0.2%, to 1,283.35.

But technology stocks did not fare as well, with Apple Inc. and Microsoft Corp. losing more than 1%. The technology-focused Nasdaq composite index slid 14.75 points, or 0.5%, to 2,689.54.

In currencies, the dollar was trading at ¥82.69 from ¥82.54 late Friday. The euro stood at $1.3603 from $1.362.