Asian stocks trade mixed, the majority of China market were mostly down

asian markets mixed

During late morning on Tuesday, markets in Asia were mixed after Wall Street recieved average gains.

The Nikkei of Japan was up 0.59 percent, the Topix was mainly flat. In Korea, the KOSPI gained 1.39 percent.

However, most of Chinese markets were down during late morning trade. The Shanghai composite shed 1 percent while the Shenzhen composite lost 1.34 percent, with most sectors experiencing losses which includes banks, autos and property.

The Hang Seng index of Hong Kong fell 0.62 percent, with losses in the tech sector and in banks.

The ASX 200 in Australia was mainly flat since the market was closed on Wednesday for a holiday. The financial sector was heavily affected dropping 0.55 percent as well as prominent banking stocks falling with Westpac shares falling 1.51 percent and ANZ shedding 0.55 percent. The Commonwealth Bank plunged 0.65 percent while the national Australia Bank was down 0.41 percent.

The South Korean tech powerhouse Samsung revealed their first quarter results. The smartphone giant reported an operating profit which was valued at 15.64 trillion Korean won or $14.45 billion for three months which ended in March, on track with their earlier forecast and a 58 percent on year jump.

The consolidated revenue of Samsung was valued at 60.56 trillion won. Samsung stated that its first quarter revenue was mostly motivated by its memory chip business and the hiked saled of its most popular smartphones like the Galaxy S9.

In Japan, the yen traded at 109.32 versus the dollar, weakening from levels under 108.0 that was reached the past week.


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