Asia-Pacific shares head south

Asia-Pacific shares head south

On Monday, stock indices of the Asia-Pacific region inched down after a negative result on Wall Street on Friday. Market participants are cautious, as they are monitoring the growth of the revenue of American bonds and also expect reports on revenues from several large companies this week.

The Australian market is growing notwithstanding weak references from Wall Street.

Shares of BHP Billiton tacked on by almost 1%, Rio Tinto acquired 1%, while Fortescue Metals gained 0,2%.

Among gold miners, the market value of Evolution Mining headed south by 0.6% after gold prices dipped on Friday.

Meanwhile, Newcrest Mining shares soared 2% after the gold miner told it had received approval to use the old Cadia Hill quarry as a storage facility.

Shares of Oil Search rallied by 0.2%, Woodside Petroleum gained by 0.3%, while Santos managed to grow by 1% against the background of rising oil prices on Friday.

In the banking sector ANZ Banking, National Australia Bank and Westpac – all of them traded with growth in the range 0.2%-0.7%. Additionally, the Commonwealth Bank reduced its capitalization by approximately 0.1%.

The Japanese market is moderately going down, despite the weaker yen amid a sag in geopolitical tensions in the world.

On Saturday, North Korea announced that it would immediately cease its nuclear and missile tests. The DPRK is also going to close the nuclear test site in the northern part of the country for the purpose of confirming its intention to freeze the tests.

Among the main exporters, shares of Mitsubishi Electric inched up by about 0.5%, while Sony and Panasonic diminished their capitalization by about 1% and 0.4% respectively.

As for the major car makers, Toyota dived 0.4%, Honda sank by 0.1%.

Meanwhile, in the banking sector, shares of Mitsubishi UFJ Financial as well as Sumitomo Mitsui Financial headed north more than 2%.

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