Asian stocks show mixed performance with China getting a boost

Asian stocks show mixed performance with China getting a boost

On Monday, Asian stocks were mixed in thin regional trade amid Mainland China getting a boost.

Meanwhile, the ASX 200 went down 1% in Australia. The heavily-weighted financials subindex slumped 1.28% because key banking equities were pressured. Stocks of ANZ slumped 1.26%, Westpac dipped 1.54%, Commonwealth Bank lost 0.96%, and the National Australia Bank declined 1.44%.

Japan's benchmark Nikkei 225 sank 0.84%, while the Shanghai composite managed to add 0.11%. Additionally, the Hang Seng index surged 0.46% in Hong Kong.

The previous week, American shares retreated from record peaks on the back of ascending American political jitters as well as an earnings report from General Electric, which undershot Wall Street forecasts bringing the broader market lower.

On Friday, the political scandal involving Donald Trump heated up right after Special counsel Robert Mueller urged the White House to preserve all documents regarding the June 2016 meeting that US President as well as other associated had with a Russian attorney.


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S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

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