(MENAFN- Baystreet.ca)
Banking Stress Lingers, Asia Mixed
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Asia-Pacific markets were mixed on Monday as investors continue to assess the impact of the banking troubles in the U.S and Europe. Deutsche Bank ended the week seeing a selloff of its U.S.-listed shares, after the German lender's credit default swaps jumped, adding onto lingering fears of contagion from turmoil seen in banking sector.
In Japan, the Nikkei 225 regained 91.62 points, or 0.3%, to 27,476.87.
In Hong Kong, the Hang Seng Index fell 347.99 points, or 1.8%, to 19,567.69.
Stocks in Hong Kong were dragged down by basic materials, energy and technology stocks on Monday.
Basic materials stocks fell by more than 1%, energy stocks fell 1.47%, and technology stocks fell 1.13%.
China Hongqiao Group saw the steepest losses of 5.1% after reporting its preliminary full-year earnings on Friday that saw its net profit attributable to owners drop nearly 46%.
China Petroleum & Chemical Corp fell 2.6% and China Shenhua Energy fell more than 3%. Shares of Baidu and Meituan also saw further losses in the afternoon session.
CHINA
In China, the CSI 300 dropped 14.57 points, or 0.4%, to 4,012.48.
China's Fosun Tourism Group posted revenue of 14 billion yuan ($2 billion) in its full-year earnings last Thursday - marking a growth of 48.8% from a year ago.
The company also saw narrowed losses in adjusted EBITDA, marking an adjusted net loss of 497.3 million yuan in 2022 after seeing a loss of 2.8 billion yuan the previous year.
In other markets
In Singapore, the Straits Times recovered 26.39 points, or 0.8%, to 3,239.03.
In Taiwan, the Taiex stumbled 84.39 points, or 0.5%, to 15,830.31.
In Korea, the Kospi slid 5.74 points, or 0.2%, to 2,409.22.
In New Zealand, the NZX 50 regrouped 32.04 points, or 0.3%, to 11,612.86.
In Australia, the ASX 200 moved forward 6.75 points, or 0.1%, to 6,961.98.
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