By Marketwatch and Associated Press
Asian stock markets finished mixed Monday, as President Donald Trump visited Japan and talked trade with Prime Minister Shinzo Abe.
On Monday, Trump became the first world leader to meet Japan’s new emperor, Naruhito, and later met with Abe to discuss trade and other world issues.
While no U.S.-Japan trade deal has been reached, Trump tweeted Saturday : “Great progress being made in our Trade Negotiations with Japan. Agriculture and beef heavily in play. Much will wait until after their July elections where I anticipate big numbers!”
Meanwhile in Europe, centrist parties suffered losses in European Parliament elections, with far-right parties and the Green Party making inroads. However, the populist gains were not as great as some had expected, and pro-EU parties will control more than two-thirds of the seats.
U.S. financial markets will be closed Monday in observance of Memorial Day.
The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.32% jumped 1.4% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -1.17% rose 2.5%. Reuters reported data showed profits for Chinese industrial firms falling in April on weak demand, following strong numbers in the previous month. The read-in from the latest data is that policy makers may need to step in and support the economy.
South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.83% was flat, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.06% , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.38% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.18% were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.52% finished flat.
Among individual stocks, oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +0.54% gained in Tokyo trading, as did Uniqlo parent Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 +1.82% and SoftBank Group /zigman2/quotes/207303954/delayed JP:9984 +0.09% . In Hong Kong, food processor WH Group /zigman2/quotes/204247792/delayed HK:288 -0.13% fell, along with Tencent /zigman2/quotes/204605823/delayed HK:700 0.00% and China Life Insurance /zigman2/quotes/202359856/delayed HK:2628 -1.05% . SK Hynix /zigman2/quotes/206420319/delayed KR:000660 -4.44% declined in South Korea, and in Australia, BHP /zigman2/quotes/201448516/delayed AU:BHP -0.20% rose while Oil Search /zigman2/quotes/204702973/delayed AU:OSH +0.14% dropped.