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Asia-Pacific stocks mixed as China’s industrial profit growth slows

28 June 2021 10:21 (UTC +04:00)

Stocks in Asia-Pacific were mixed in Monday trade. Meanwhile, official data showed that China’s industrial profits for May slowed, APA reports citing CNBC.

Mainland Chinese stocks were mixed, with the Shanghai composite fractionally lower while the Shenzhen component gained 0.924%.

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 0.28% while the Topix index sat below the flatline. South Korea’s Kospi dipped 0.1%.

Australia stocks slipped, as the S&P/ASX 200 fell slightly.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.11% lower.

Trading in Hong Kong’s markets was set to resume at 1:30 p.m. HK/SIN on Monday after an earlier 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, have been 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.