Wednesday, 27 June 2018 03:00

Asian markets mixed, though energy stocks surge

Written by MarketWatch
Rate this item
(0 votes)

Asian stock markets were mixed early Wednesday, as rising oil prices and trade tensions continued to set the tone for trading

Japan’s Nikkei NIK, -0.41%[1]   fell 0.5%, with oil consumers lagging on crude’s overnight pop following a U.S. official’s comments warning the world [2]to end Iranian oil imports or face sanctions. Major shipper Mitsui OSK 9104, -3.33%[3]   was down 3.4% while airline operator ANA 9202, -1.55%[4]   fell 1.6%. Conversely, energy stocks were up with oil explorer Japan Petroleum Exploration 1662, +1.92%[5]   rising 1.9% and distributor JXTG 5020, +1.99%[6]   climbing 2%.

Chinese stocks opened little changed, a day after the Shanghai Composite SHCOMP, -0.01%[7]   hit fresh two-year lows and entered bear-market territory to join Shenzhen index 399106, +0.03%[8]   at least 20% below their most recent highs.

Hong Kong stocks started slightly higher, as the Hang Seng HSI, -0.06%[9]   looked to end its slump after closing down seven of the past nine days to hit six-month lows. Insurer AIA 1299, +0.37%[10]   was 0.4% higher, while energy stocks jumped, with CNOOC 0883, +5.88%[11]   5.7% higher and PetroChina 0857, +2.11%[12]   up 1.9%.

China’s largest steel-trading platform...

Read more from our friends at MarketWatch

Read 808 times