Asian Markets End On Negative Note
(RTTNews) - Asian markets failed to hold early gains and ended lower on Monday, as investors were reluctant to pick up stocks amid a lack of positive triggers.
Stocks retreated due to Weakness in the Chinese market amid speculation the government may slow down monetary easing.
The Shanghai Composite Index ended down 1.7%. The market in Indonesia ended sharply lower. Indian shares were down sharply, weighed down by a weaker rupee and higher crude oil prices.
Taiwan and Singapore edged up marginally, while South Korea and Malaysia ended flat.
The Nikkei 225 of the Japanese market ended up 0.14%, supported by gains in financial, automobile and chemical sections.
Shares of Daiwa House Industry Co. jumped nearly 7%. Familymart climbed up 5.7% and Toho ended higher by about 3.1%.
Yahoo Japan, Aeon, Seven & i Holdings, Mitsui OSK Lines, Konami Corp., Odakyu Electric and Inpex Corp. gained 2 to 2.6%.
Dainippon Screen Mfg.Co. shares declined more than 4%. Credit Saison, Showa Denko K.K., Furukawa Electric, Chiyoda Corp. and Sumco Corp. lost 2 to 3.4%.
Shares of Chinese oil drilling companies rose, after crude oil prices soared to a near six-month high on reports the U.S. is likely to toughen its sanctions on Iran.
According to reports in Washington Post, the U.S. is likely to announce that buyers of Iranian oil will have to end their imports soon, or be subject to U.S. sanctions. China, India and South Korea are among the major buyers of Iranian oil.
The markets in Australia, New Zealand and Hong Kong remained closed for the Easter Monday holiday.
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