Asian stocks mostly lower on Iran dispute, Japan polls

Monday, 22. July 2019 08:17

Equity markets took a downturn on Monday in the session in Asia-Pacific as investors digested the results of elections for just over half of the seats in the upper chamber of Japan's parliament. Prime Minister Shinzo Abe's coalition is set for a strong majority, but it fell short of two thirds. On the flipside, all 25 stocks spiked at the start of trading at the Shanghai Stock Exchange's Science and Technology Innovation Board, or STAR.

Focus was also on the so-called tanker tussle in the Persian Gulf, where the United States and the United Kingdom and their allies on the one side and Iran on the other have been capturing each other's oil ships. In other news, violence erupted again in Hong Kong in protests and a group of masked men injured dozens of people in the subway.

The Shanghai Composite sunk 0.81% at 8:57 am CET and the Shenzhen Composite lost 1.24%. The Hang Seng was down 0.82% in Hong Kong at 8:14 am CET. The Kospi stock index was barely changed. The Nikkei 225 declined 0.35%, compared to a retreat of 0.17% in the Australian S&P/ASX 200. The dollar jumped 0.27% to ¥108.0085 and slipped 0.06% to 6.8796 offshore Chinese yuan. Gold was almost flat at $1,425.79 per ounce.

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