Asian shares mixed as oil prices surge

Monday, 16. September 2019 07:41

Stocks on major markets in East Asia were mixed on Monday as prices of oil futures soared due to supply worries after Saudi Arabia said Aramco's output will halve due to recent drone attacks on its oil facilities. United States President Donald Trump said he authorized the release of the Strategic Petroleum Reserve "to keep the markets well-supplied."

Meanwhile, data from China showed a lower-than-expected rise in retail sales and the slowest industrial growth in over 17 years. The country's statistical bureau said it expects to achieve the full-year growth target, despite "increasing downward pressure" and "external uncertainties."

The Nikkei 225 was closed for Respect for the Aged Day. South Korea's Kospi added 0.35% at 7:17 am CET.

The Shanghai Composite was flat at 7:35 am CET as the Shenzhen Composite gained 0.27% two minutes later. Hong Kong's Hang Seng was the only index in the negative, sinking 1.11% at 7:39 am CET.

Australia's S&P/ASX 200 was up by 0.07% at 7:39 am CET.

The dollar rose 0.20% against the yen to sell for ¥107.8770 at 7:40 am CET.

Related Links: 
Author:
Breaking the News / NI