Asia mostly higher in light volume
Stocks in Asia finished mostly to the upside on the heels of the record highs posted in the U.S. last week, though volume was lighter than usual as markets in Japan were closed for a holiday. The Hong Kong Hang Seng Index gained 0.5% and China's Shanghai Composite Index ticked 0.2% higher, snapping a nine-session losing streak, which took the index to the lowest level since August last week, with financials leading the way despite continued liquidity concerns in the region. Stocks in mainland China shrugged off the seventh-consecutive daily increase in China's benchmark money-market rate, which reached the highest level since June 20, per Bloomberg, fostering the flare-up in credit crunch concerns, despite last week's announcement that the government has injected liquidity in the financial system. Meanwhile, stocks related to the supply chain of Apple Inc. received a boost in the wake of the company's deal with China Mobile, helping South Korea's Kospi Index rise 0.7%. Elsewhere, Australia's S&P/ASX 200 Index advanced 0.5%, aided by continued strength in financials, while India's S&P BSE Sensex 30 Index inched 0.1% to the upside.
Source: Schwab
Stocks in Asia finished mostly to the upside on the heels of the record highs posted in the U.S. last week, though volume was lighter than usual as markets in Japan were closed for a holiday. The Hong Kong Hang Seng Index gained 0.5% and China's Shanghai Composite Index ticked 0.2% higher, snapping a nine-session losing streak, which took the index to the lowest level since August last week, with financials leading the way despite continued liquidity concerns in the region. Stocks in mainland China shrugged off the seventh-consecutive daily increase in China's benchmark money-market rate, which reached the highest level since June 20, per Bloomberg, fostering the flare-up in credit crunch concerns, despite last week's announcement that the government has injected liquidity in the financial system. Meanwhile, stocks related to the supply chain of Apple Inc. received a boost in the wake of the company's deal with China Mobile, helping South Korea's Kospi Index rise 0.7%. Elsewhere, Australia's S&P/ASX 200 Index advanced 0.5%, aided by continued strength in financials, while India's S&P BSE Sensex 30 Index inched 0.1% to the upside.
Source: Schwab
