Mar 20, 2017 07:39 AM IST | Source: CNBC

Asian stocks mixed as investors mull G20 headlines

Chinese mainland shares were mixed on Monday morning, with the Shanghai composite up 0.13 percent and the Shenzhen composite flat. Hong Kong's Hang Seng added 0.21 percent.

Asian stocks mixed as investors mull G20 headlines

Asian equities were mixed on Monday as investors mulled headlines out of the G-20 finance ministers meeting in Germany at the weekend and China Development Forum over the next two days.

Finance ministers from twenty of the world's biggest economies held a two-day meeting, and warned against competitive devaluations and disorderly FX markets but failed to agree on keeping global trade free and open.

Down Under, the ASX 200 dipped 0.35 percent, seeing broad losses across all sub-indexes.

South Korea's Kospi dropped 0.52 percent. Earlier, official data showed that South Korea's February producer prices rose at its fastest pace in over five years, with the producer price index (PPI) up at 4.2 percent, compared to January's 3.9 percent.

Chinese mainland shares were mixed on Monday morning, with the Shanghai composite up 0.13 percent and the Shenzhen composite flat. Hong Kong's Hang Seng added 0.21 percent.

Over in Beijing, international business leaders, international organizations and Chinese policymakers gather for the 18th session of the China Development Forum.

Official data on Saturday showed that China's property prices rose in February after having slowed in the past four months. New home prices were up 0.3 percent, compared to January's 0.2 percent increase. Meanwhile, property sales jumped 25.1 percent in January and February, the strongest annual growth in seven years.

Markets in Japan are shut. On Friday, Japan's benchmark index fell 0.35 percent to close at 19,521.59.

Japanese Prime Minister Shinzo Abe said on Sunday in Germany that the European Union and Japan should soon reach an economic deal, and stressed the importance of free trade to his country, Reuters reported.

US Secretary of State Rex Tillerson met with Chinese President Xi Jinping for 30 minutes on Sunday and said that President Donald Trump anticipated a meeting soon, Reuters reported.

IBM and a unit of China's Dalian Wanda Group agreed on Sunday to team up to provide cloud services for Chinese firms through a newly formed venture, Wanda Cloud Company.

In Southeast Asia, oilfield services firm Ezra Holdings of Singapore filed for US Chapter 11 bankruptcy on Saturday. The company had been trying to restructure and said in February it faced a "going concern issue" if it did achieve a favorable outcome.

Oil prices were steady last Friday after dropping nearly 10 percent for the week on concerns of a continued global supply overhang.

During Asian time, Brent crude was down 0.35 percent at USD 51.58 a barrel, while US crude fell 0.59 percent to USD 48.50.

The dollar was trading at 100.3 against a basket of currencies early Asian time. The yen strengthened to 112.71, falling below the 113 handle, against the greenback. The Australian dollar was stronger at USD 0.7704 as of 6:55 am HK/SIN.

US stocks closed mixed Friday, dragged down by declines in financial and health care stocks.

The Dow Jones industrial average closed down 0.1 percent to 20,914.62, while the S&P 500 slipped 0.13 percent to 2,378.25.The Nasdaq composite closed flat at 5,901.
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