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Asian Markets Start Week Lower

Asian markets began on a weak note Monday following another drop for Wall Street stocks Friday and as tensions over Ukraine intensified over the weekend.

The Nikkei edged up 0.1%. The Shanghai Composite was down 0.3% while the Hang Seng remained unchanged. The All Ordinaries fell 1.2%. The Sensex was shut for a public holiday.

In a gun-battle Sunday, a Ukrainian special forces officer was killed while five others were wounded in the eastern Ukraine city of Slovyannsk.

Investors also seemed reluctant to commit themselves ahead of key monthly data due from China this week Wednesday.

Stocks on the Move

Sharp Corp. tumbled over 9% on reports the company is planning another share issue.

Fast Retailing was also lower, down 3.3% after CNBC reported market rumours the company is planning a new acquisition outside Japan.

Bellwether Toyota gained 2.8% while Fuji Heavy lifted 3.6%.

Mitsubishi UFJ Financial advanced 2.8% while Sumitomo Mitsui and Mizuho were up 1.2% and half a percent each respectively.

In China, according to the state-run Xinhua News Agency, a toxic oil leak from China National Petroleum Corp. contaminated the drinking water of over 2 million people in the city of Lanzhou.

The report affected the company’s listed peers as China Petroleum & Chemical Corp. slipped 2.2%.

Sinopec Shanghai Petroleum Co. fell 6.3% after the company warned of a first-quarter loss.

Hong Kong Exchanges and Clearing was up 2.3% as it pared earlier gains of over 4%.

In Sydney, BHP Billiton was down 0.7% while Woodside Petroleum slipped about half a percent.

Adding to the previous week’s losses following its profit warning, Coca-Cola Amatil dropped a further 7.1%.

JB Hi-Fi was down just over a percent on reports it may be a possible acquisition target.