Stocks in Asia weaken in early trading. The majority of the benchmark index slipped after Wall Street failed to make a profit on the stockpile closure.
As quoted by CNBC on Tuesday (28/11/2017), Japan benchmark index, Nikkei 225 down 0.52% in trading today as the Yen currency strengthened. Shares of car maker firms opened lower early in the session, but Toyota and Honda gained 0.44% and 0.68%.
Meanwhile, Korea’s benchmark Kospi fell 0.04% as blue-chip stocks extended declines since the previous trading. Shares of Samsung Electronics fell 0.84% after closing down more than 5% at the close of trading following a Morgan Stanley report that downgraded its stock.
The benchmark Australian ASX200 index edged up 0.14% early in the session. Nevertheless, some stocks still recorded declines such as Rio Tinto and BHP which fell 0.1% and 1.9% respectively.
The Hong Kong market became the focus after a South China Morning Post report that Beijing will restrict capital to the south at Stock Connect. Mutual funds China intends to allocate less than half of the funds to the Hong Kong stock market has been approved.
Chinese auto maker Anhui Jianghuai Automobile signed a memorandum of understanding with Volkswagen to develop a joint venture model in China. These companies have previously formed a joint venture that focuses on the development of electric vehicles.