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Abe win fails to boost Japan's Nikkei | |
(about 3 hours later) | |
The focus of Asian markets on Monday was on Japan after Prime Minister Shinzo Abe's coalition won a snap election on Sunday. | The focus of Asian markets on Monday was on Japan after Prime Minister Shinzo Abe's coalition won a snap election on Sunday. |
However, despite the widely-expected win, the Nikkei 225 closed down 1.6% at 17,099.40 as the latest Tankan business survey disappointed the market. | |
Confidence among big manufacturers fell slightly, the Tankan showed. | |
It also found that while exporters have been helped by the weak yen, higher import costs have hit other firms. | |
On the currency markets, the US dollar was trading at 118.66 yen after earlier dropping as low as 117.78. | |
Rest of Asia | Rest of Asia |
In Greater China, Hong Kong's Hang Seng index was 1.1% lower at 22,987.71 points, while the Shanghai Composite edged up slightly in afternoon trade, rising 0.07% to 2,940.24 points. | |
In Australia, news of a hostage siege in Sydney, meant the the country's budget forecast announcement was delayed by a few hours. | |
Several people have been taken hostage by at least one armed man in a Sydney cafe. | Several people have been taken hostage by at least one armed man in a Sydney cafe. |
The government said it expected the nation's deficit to grow to $40.4bn Australian dollars ($33.2bn) in the 12 months to June, up from a previous forecast of A$29.8bn. | |
The country's treasurer Joe Hockey said falling prices for key resource exports were hurting the economy. | |
The benchmark S&P/ASX 200 closed down 0.6% at 5,186.10 points. | |
In South Korea, shares headed lower after data showed exports in November fell 2.1% from a year ago, worse than a provisional 1.9% decline reported earlier. | In South Korea, shares headed lower after data showed exports in November fell 2.1% from a year ago, worse than a provisional 1.9% decline reported earlier. |
The benchmark Kospi was closed down 0.07% at 1,920.36 points. |