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May 28, 2018, 6:13 a.m. EDT

Asian markets mostly up after herky-jerky trading

Nikkei erases bigger lead, Australian energy sector pulls back

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By Dow Jones Newswires


Bloomberg News
Shoppers with umbrellas walk along Takeshita Street in Tokyo.

It was a bit of a herky-jerky session for Asian stocks on Monday, colored by optimism about the Korean Peninsula and a fresh slump in oil prices. Stock indexes in a number of markets spend the session swinging between gains and losses.

The Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.39%  closed up 0.1%, as the yen steadied. Meanwhile, benchmarks in South Korea /zigman2/quotes/210598069/delayed KR:180721 -1.49%  and Taiwan  rose 0.7% and 0.4%, respectively.

Airlines and electronics stocks helped the Nikkei start on the right foot; ANA /zigman2/quotes/202790240/delayed JP:9202 -0.79%   was 2.2% higher. Meanwhile, Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 -1.27%   rose a further 1.5% and Sony /zigman2/quotes/201361720/delayed JP:6758 -0.57%  was up 2% as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4906%   climbed to ¥109.70. And as is the norm, falling Treasury yields were hitting Japanese life insurers, with Dai-ichi /zigman2/quotes/208507587/delayed JP:8750 +0.89%   off more than 1%.

Korea’s Kospi got a bump, even with Samsung /zigman2/quotes/209800866/delayed KR:005930 -1.33%   slipped 0.7% to start the week as steelmaker Posco /zigman2/quotes/201759282/delayed KR:005490 -1.86%   and Korea Electric Power /zigman2/quotes/201367120/delayed KR:015760 +0.38%   each rebounded around 2% following Friday skids.

Fueling some optimism on the geopolitical front, U.S. officials arrived in North Korea on Sunday to help plan a summit between President Donald Trump and North Korean leader Kim Jong Un, a day after the two Korean leaders held a surprise meeting of their own. That was after Trump abruptly cancelled that meeting last week.

Malaysia’s stock benchmark /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.25%   slid 1.2%, giving up Friday’s 1.2% rebound in the index.

Singapore stocks /zigman2/quotes/210597985/delayed SG:STI -0.55%   finished up about 0.2%, with Singapore Airlines /zigman2/quotes/208369943/delayed SG:C6L +0.23%   rising 0.6%.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33%   lagged with a 0.5% drop amid a turnaround for Australian energy stocks. After hitting fresh three-year highs last Monday, not just on rising oil prices but coal as well, it’s been a sharp U-turn for the sector. Following Friday’s 3%-4% swoon in global oil futures, Australian energy stocks have dropped 6.9% the past week, including a 2.5% drop Monday.

Oil prices were once again under pressure on Monday, with WTI crude  dropping 1.7% to $66.72 a barrel.

U.S. markets will be closed on Monday in observance of the Memorial Day holiday. London markets are also closed, for a bank holiday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 635,474
Feb. 21, 2020 3:33p
loading...
/zigman2/quotes/202790240/delayed
JP : Japan: Tokyo
¥ 3,246.00
-26.00 -0.79%
Volume: 1.43M
Feb. 21, 2020 3:00p
P/E Ratio
12.01
Dividend Yield
2.31%
Market Cap
¥1094.55 billion
Rev. per Employee
¥48.88M
loading...
/zigman2/quotes/202883609/delayed
JP : Japan: Tokyo
¥ 24,845.00
-320.00 -1.27%
Volume: 831,900
Feb. 21, 2020 3:00p
P/E Ratio
20.89
Dividend Yield
2.17%
Market Cap
¥3913.17 billion
Rev. per Employee
¥110.09M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,479.00
-43.00 -0.57%
Volume: 4.20M
Feb. 21, 2020 3:00p
P/E Ratio
14.41
Dividend Yield
0.60%
Market Cap
¥9225.64 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.5550
-0.5500 -0.4906%
Volume: 0.0000
Feb. 21, 2020 4:59p
loading...
/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 1,644.00
+14.50 +0.89%
Volume: 3.68M
Feb. 21, 2020 3:00p
P/E Ratio
9.33
Dividend Yield
3.77%
Market Cap
¥1844.94 billion
Rev. per Employee
¥103.65M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
59,200.00
-800.00 -1.33%
Volume: 13.78M
Feb. 21, 2020 3:30p
P/E Ratio
16.34
Dividend Yield
2.39%
Market Cap
₩407560.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201759282/delayed
KR : S. Korea: KRX
211,500
-4,000 -1.86%
Volume: 217,235
Feb. 21, 2020 3:30p
P/E Ratio
18.64
Dividend Yield
4.73%
Market Cap
₩17264.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201367120/delayed
KR : S. Korea: KRX
26,100.00
+100.00 +0.38%
Volume: 1.25M
Feb. 21, 2020 3:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
₩16691.10 billion
Rev. per Employee
₩2.73B
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,531.20
-3.78 -0.25%
Volume: 0.00
Feb. 21, 2020 5:05p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,181.03
-17.65 -0.55%
Volume: 0.00
Feb. 21, 2020 5:20p
loading...
/zigman2/quotes/208369943/delayed
SG : Singapore: SGX
$ 8.57
+0.02 +0.23%
Volume: 2.20M
Feb. 21, 2020 5:04p
P/E Ratio
14.12
Dividend Yield
3.50%
Market Cap
$10.13 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
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