Home » News » Asia markets start holiday-shortened week mixed; India stocks edge lower

Asia markets start holiday-shortened week mixed; India stocks edge lower

News Team

Asia markets were mixed Monday to start a holiday-shortened week for most markets, while China remains shut for the week.

Many major stock markets in Asia-Pacific were closed Monday including Hong Kong, Taiwan and South Korea.

India’s Nifty 50 index edged 0.3% lower, while shares of financial technology firm Paytm, listed as One 97 Communications, rose 1.6%.

The company confirmed an independent director at its banking arm resigned from the Paytm Payments Bank board on Feb. 1.

In Australia, the S&P/ASX 200 closed 0.4% lower at 7,614.90.

The New Zealand dollar dipped 0.28% to $0.6128, cooling from a roughly 1.4% jump last week.

Reserve Bank of New Zealand Governor Adrian Orr said the country’s current inflation rate was still too high at 4.7%. Speaking before a parliamentary committee, Orr said the central bank aims to bring inflation down to around 2%.

Japan’s Nikkei 225 ended at 36,897.42, up 0.1%. The Topix dipped 0.2% at 2,557.88.

Japan’s Nikkei 225 breached the 37,000 point mark on an intra-day basis, touching 34-year highs on Friday.

Wall Street ended higher on Friday after December’s revised inflation reading came in lower than first reported. The benchmark S&P 500 closed above the key 5,000 level for the first time ever.

The S&P 500 rose 0.57% to end at 5,026.61, while the Nasdaq Composite rallied 1.25% to close at 15,990.66. The Dow Jones Industrial Average slipped 54.64 points, or 0.14%, to settle at 38,671.69.

Source: https://www.cnbc.com/2024/02/12/asia-markets-australia-japan-markets-open-for-trading-china-closed-.html