Global markets today: Asian markets traded mixed o Monday as investors evaluated ongoing geopolitical issues. Japan's Nikkei 225 dropped by 1.92%, while the Topix index fell by 1.76%, South Korea's Kospi was down 0.60%. The Hong Kong Hang Seng index decreased by 0.18%, whereas mainland China's CSI 300 rose by 0.27%. Australia’s S&P/ASX 200 saw a slight increase of 0.13%.
The Nikkei share average in Japan declined on Monday due to a stronger yen putting downward pressure on the market, with concerns about currency intervention further discouraging equity investors.
The yen reached a high of 153.915 per dollar, marking its strongest position in over three months, following what seemed to be an indication of intervention that caused a spike in Japan's currency on Friday and led to further gains throughout the day.
Investors will remain attentive to Japanese stocks and the yen following a remark from Japan's prime minister, who expressed a willingness to tackle speculative market activities in light of the yen's quick rise on Friday, warning that officials are ready to intervene should volatility increase. An appreciating yen reduces the international earnings for Japan's leading exporters.
Conversely, another element affecting market sentiment was the declaration made on Sunday by Canadian Prime Minister Mark Carney, who stated that Canada does not intend to seek a free trade agreement with China, after US President Donald Trump cautioned about implementing 100% tariffs on Canada if it proceeded with a trade deal with China.
US Stock market
On Friday, the main stock indices in the United States closed in a mixed manner, with the Nasdaq Composite continuing its upward momentum as geopolitical tensions eased, while the Dow Jones Industrial Average fell behind.
The tech-centric Nasdaq increased by 0.28%, ending at 23,501.24, whereas the widely watched Dow decreased by 285.30 points, or 0.58%, closing at 49,098.71. A drop of nearly 4% in Goldman Sachs had a negative effect on the 30-stock index.
The broader S&P 500 saw a minor rise of 0.03%, finishing at 6,915.61.
(With inputs from agencies)
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