Markets mostly higher in Asia, shrug off North Korea missile test; ASX up 0.7%

Markets mostly higher in Asia, shrug off North Korea missile test; ASX up 0.7%

Monday, May 22, 2017




Asian Market 1
Asian equities traded mostly higher on Monday, following the continued recovery on Wall Street last week and as investors digest yet another missile test out of North Korea at the weekend.

The Nikkei 225 was 0.34 percent higher. Australia’s ASX 200 added 0.66 percent, driven largely by its energy and materials sub-indexes which were up 1.85 percent and 1.43 percent respectively.

South Korea’s benchmark Kospi index shrugged off news of the North Korean missile test, gaining 0.36 percent.

The Hang Seng Index traded 0.37 percent higher, but markets on the mainland were in the red. The Shanghai Composite was down 0.18 percent and the Shenzhen Composite dipped 0.166 percent.

In Japan, Toshiba’s US nuclear arm Westinghouse Electric indicated that it would lockout 172 union members as contract negotiations had reached an impasse. Toshiba shares traded 0.04 percent higher.

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