Asian stock markets close mixed on Monday

Nikkei 225 stock exchange falls 0.73% after Bank of Japan intervenes in market

Major Asian stock markets closed mixed on Monday amid lingering concerns over China’s lockdown to curb COVID-19 pandemic, inflation and the Russian war on Ukraine.

The Asia Dow, which includes blue-chip companies in the region, fell 20.13 points, or 0.56%, to 3,592 points at 0930GMT.

Tokyo’s Nikkei 225 stock exchange ended its nine-day winning streak, down 205.95 points, or 0.73%, to close at 27,943 points, as the Bank of Japan offered to buy unlimited amounts of 10-year Japanese government bonds at 0.25%.

The move came after the 10-year Japanese government bonds yield increased above its key target, hitting a six-year high of 0.245%.

The announcement also resulted in the dollar soaring against the yen, exceeding 125 yen for the first time since August 2015.

China’s Shanghai Stock Exchange finished slightly higher, up 2.26 points, or 0.07%, to finish at 3,214 although Chinese financial hub Shanghai were put under an eight-day COVID-19 lockdown.

India’s Sensex benchmark went marginally up 29.1 points, or 0.05%, to 57,391.

The Singapore index, on the other hand, rose 17.4 points, or 0.51%,to end the day at 3,431.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, increased 280.1 points, or 1.31%, to 21,685.


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