Asian markets showed a mixed performance on Monday as investors weighed the latest developments in trade talks and assessed fresh economic data including May’s industrial output from South Korea and Japan,
China’s June PMI figures also weighed in on market sentiment as factory activity shrank for the third straight month in June.
The figures added to expectations that Beijing may roll out further stimulus measures to offset the effects of persistent trade tensions with the United States.
The markets in India also saw correction amid sectoral weakness and profit-booking after a healthy uptrend last week.
The development came as the investors also closely watched how the US stock market reacted to President Donald Trump’s new bill, which was passed by the Senate on Saturday.
The sweeping new bill, running over 900 pages, outlines around $3.8 trillion in tax cuts paired with selective spending cuts and increased funding for defense and border security.
Nikkei 225 continues to climb as Hang Seng dips
Japanese stocks closed higher on Monday, with gains in real estate, banking, and textile sectors lifting the market.
The Nikkei 225 rose 0.84% by the end of the session to close at 40,487.39.
Top performers included Tokyo Electric Power, which jumped 6.12% to finish at ¥480.10. Olympus climbed 5.60% to ¥1,715.00, while SoftBank Group added 4.32%, closing at ¥10,515.00.
On the other side, Hong Kong’s stock market slid on Monday amid weak momentum in tech stocks.
The Hang Seng Index closed lower on the day, dropping 211 points, or 0.87%, to settle at 24,072.
The Hang Seng China Enterprises Index also declined, slipping 0.96% to finish at 8,678, while the Hang Seng Tech Index eased 0.72% to close at 5,302.
KOSPI, CSI 300 trade in green
South Korea’s benchmark KOSPI index ended the first day of trading week in green as it surged 0.52% to close at 3,071.70.
Chemical stocks saw strong gains, fueled by optimism over ongoing Korea-U.S. tariff negotiations and hopes for progress in U.S.-China trade discussions.
China’s CSI 300 index also witnessed a 0.37% rally on Monday as it was closing at 3,936.08 at the time of closing.
Australia’s S&P/ASX 200 gained 0.33% during the day to close at 8,542.30.
Indian stock markets tumble
Indian markets ended in the red on Monday, breaking a four-day winning streak.
The Sensex slipped 452 points to close at 83,606.46, while the Nifty closed just above the crucial 25,500 mark.
The decline was driven by weakness in key stocks including Tata Consumer, Axis Bank, Kotak Mahindra Bank, Hero MotoCorp, and Maruti Suzuki.
On the sectoral front, PSU banks stood out, gaining 2.5%, even as realty, FMCG, auto, and metal stocks dragged the broader market lower.
The market drifted lower after a subdued opening, with the decline largely driven by profit booking following the recent rally.
The technical analysis showed that the Nifty formed a bearish engulfing pattern near a key resistance level, signaling the possibility of continued consolidation or a short-term pullback.
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