Asian shares were mixed on Monday, the first trading day of the new quarter, taking a cue from a weaker U.S. equities close last week and on heightened tension on the Korean Peninsula.
U.S. President Donald Trump told the Financial Times, that the U.S. will take unilateral action to eliminate nuclear threats from North Korea, unless China, one of the hermit state’s closest ally, intensifies pressure on Pyongyang. These comments come ahead of a two-day meeting this week in Florida with Chinese President Xi Jinping.
In Australia, the benchmark ASX 200 was down 0.29 percent, as its materials sub-index dragged.
Japan’s Nikkei 225 was up 0.13 percent in early trade. The Bank of Japan’s Tankan quarterly survey showed that large Japanese manufacturers’ sentiment was up +12, lower compared to a Reuters poll forecast for +14. Japan’s service sector saw sentiment improve, up +20.
“For the manufacturing sector, exports are growing especially to the U.S., China and Asia, but I guess people are a bit concerned about what’s happening in the U.S.,” said Sayuri Shirai, professor at Keio University.
Across the Korean strait, the Kospi added 0.17 percent.
South Korea’s first digital bank, K Bank, launched on Monday and will allow customers to open a bank account or apply for a loan on customer’s smartphones.
