Close this search box.

Asia-Pacific stocks mixed as China’s industrial profit growth slows; trading in Hong Kong delayed – CNBC

SINGAPORE — Stocks in Asia-Pacific were mixed in Monday morning trade. Meanwhile, official data showed that China’s industrial profits for May slowed.

Mainland Chinese stocks were higher in early trade, with the Shanghai composite up 0.13% while the Shenzhen component gained 0.298%.

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 about 0.1% in morning trade while the Topix index gained 0.11%. South Korea’s Kospi sat below the flatline.

Australia stocks slipped, as the S&P/ASX 200 fell 0.32%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.15% lower.

Trading paused in Hong Kong

Hong Kong Exchanges and Clearing announced 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.

“If a Black Rainstorm Warning is cancelled at or before 12:00 noon, major products of HKEX’s securities and derivatives markets (including Stock Connect trading) will resume trading in the afternoon,” HKEX said in a release. “If the Black Rainstorm Warning remains issued at 12:00 noon, all trading sessions (including Stock Connect trading) of the day will be cancelled.”

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.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.805 after a decline earlier this month from above 92.1.

The Japanese yen traded at 110.70 per dollar after last week’s weakening from below 110.4 against the greenback. The Australian dollar changed hands at $0.7585 after rising last week from below $0.756.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.37% to $76.46 per barrel. U.S. crude futures gained 0.35% to $74.31 per barrel.