Asian stocks sag from 2-year peaks

Asian stocks sag from 2-year peaks

On Monday, Asian stocks handed back earlier modest revenues and descended, running short of incentives to push past two-year peaks, with many major markets unviable for holidays.

Meanwhile, the British pound nursed losses after a survey demonstrated a shocking lead for Prime Minister Theresa May's party in the UK’s approaching elections.

Outside Japan MSCI's broadest index of Asia-Pacific stocks slumped 0.2%.

Japan's Nikkei N225 gained 0.1%, while weaker commodities suppressed Australian stocks, making them lose 0.5%. On Monday, the closure of British, Chinese and American markets on Monday deprived market participants of potential catalysts and kept trading tamed.

Reacting to North Korean missile launch, KOSPI initially touched an intraday record peak in South Korea before rebounding 0.1%.

Versus a basket of key currencies, the dollar index stood still, sticking to 97.465, having ascended on Friday due to positive American GDP data.

 

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