Asian markets traded mixed on Monday as investors try to figure out U.S. President Donald Trump’s policies.
There has been a surge of actions that run the range from immigration to financial deregulation to tighter border control ever since Donald Trump’s inauguration in January 20.
Markets in Mainland China went down after opening higher at the start, after China’s Caixin January services purchasing managers’ index came in at 53.1, weaker than the 53.4 of December.
China’s Shanghai composite dropped 0.1 percent and the Shenzhen composite slipped 0.13 percent. The Hang Seng index of Hong Kong went up 0.49 percent.
The ASX 200 index of Australia went up 0.24 percent after December retail sales droped 0.1 percent from the previous month.
The Nikkei 225 index of Japan was up 0.1 percent, giving back earlier gains of up to 0.8 percent as data showed that wages in japan dropped in December, on an annual inflation-adjusted basis, fir the first time in a year.
The decline was due to a rise in the cost of living, which exceeded nominal pay hikes, according to officials.
The KOSPI index of Korea went up 0.21 percent in morning trade.
The markets are also keeping an eye on geopolitical strain in the East Asian region with U.S. Defense Secretary James Mattis’ visit to South Korea and Japan last week. Mattis stressed the United States’ commitment to defend Japanese territory, including islands that China is claiming.
China replied to the comment of Mattis, warning the United States not to violate on China’s claim of sovereignty over the islands known as Senkaku in Japan and Diaoyu in China.