Monday 6 June 2016

Asia Markets mixed, with Japan Stocks falling as Dollar Weakens

Asian markets traded mixed Monday, with Japan shares taking a tumble, as a disappointing May jobs report in the US on Friday weakened the dollar and bolstered regional currencies, including the yen. 

The Nikkei 225 shed 1.24 percent, retracing early losses of as much as 1.81 percent. In Australia, the ASX 200 was up 0.53 percent, led by a 3.49 percent advance in the materials sub-index. 

Major Australian miners rose sharply, with shares of Rio Tinto up 3.4 percent, Fortescue advancing 5.03 percent and BHP Billiton higher by 3.99 percent. Chinese mainland markets traded mixed, with the Shanghai composite nearly flat, while the Shenzhen composite added 0.30 percent. 

In Hong Kong, the Hang Seng index was down 0.1 percent. The Korean stock market is closed for memorial day.

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