Asia-Pacific stocks mixed as China’s industrial profit growth slows; trading in Hong Kong to resume

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SINGAPORE — Stocks in Asia-Pacific were mixed in Monday trade, as trading of securities resumed in Hong Kong following a morning pause due to severe weather conditions.

The Hang Seng index was fractionally lower in Monday afternoon trade. Trading in Hong Kong’s markets resumed Monday afternoon in the city after an earlier severe weather warning was lowered.

Hong Kong Exchanges and Clearing announced earlier on Monday that the morning trading sessions of both the securities and derivatives markets, including Stock Connect trading, will be delayed due to a black rainstorm warning.

Black rainstorm signals are issued as a warning of heavy rain that is likely to bring about flooding on the roads, leading to traffic congestion.

Mixed Asia-Pacific markets

Mainland Chinese stocks were mixed, with the Shanghai composite 0.15% lower while the Shenzhen component gained 0.794%.

Data released Sunday by China’s National Bureau of Statistics showed profits at China’s industrial firms rose 36.4% in May as compared with a year earlier. That was a slowdown from the 57% year-on-year growth posted in April.

Elsewhere, the Nikkei 225 in Japan slipped 0.15% while the Topix index sat slightly higher. South Korea’s Kospi dipped 0.12%.

Australia stocks were little changed, as the S&P/ASX 200 hovered above the flatline.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded flat.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.835 after a decline earlier this month from above 92.1.

The Japanese yen traded at 110.65 per dollar after last week’s weakening from below 110.4 against the greenback. The Australian dollar changed hands at $0.7593 after rising last week from below $0.756.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.14% to $76.07 per barrel. U.S. crude futures sat fractionally lower at $74.01 per barrel.

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