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Japan's Nikkei up on investment hopes | Japan's Nikkei up on investment hopes |
(about 3 hours later) | |
Japan's Nikkei index closed higher on Monday after machinery orders rose in March, lifting hopes that business investment could be picking up. | Japan's Nikkei index closed higher on Monday after machinery orders rose in March, lifting hopes that business investment could be picking up. |
The Nikkei index ended up 0.8% at 19,890.27. | The Nikkei index ended up 0.8% at 19,890.27. |
The latest official figures showed that machinery orders rose 2.6% in March from a year earlier, and were up 2.9% from the previous month. | The latest official figures showed that machinery orders rose 2.6% in March from a year earlier, and were up 2.9% from the previous month. |
A weaker yen has helped to drive the country's exports and has boosted its manufacturing orders. | A weaker yen has helped to drive the country's exports and has boosted its manufacturing orders. |
In Australia, the S&P/ASX 200 index closed down 1.3% at 5,659.20. | In Australia, the S&P/ASX 200 index closed down 1.3% at 5,659.20. |
Mining giant BHP Billiton's shares led the commodities sector lower after its spin-off company South32 began trading on Sydney's stock exchange. | Mining giant BHP Billiton's shares led the commodities sector lower after its spin-off company South32 began trading on Sydney's stock exchange. |
South32 is the result of one of the largest corporate break-ups in the industry's history and holds Australian and South African assets including aluminium, nickel and manganese mines. | |
Shares in the firm closed at A$2.09, at the lower end of forecasts, while BHP's shares closed down more than 7%. | Shares in the firm closed at A$2.09, at the lower end of forecasts, while BHP's shares closed down more than 7%. |
South32's chief executive Graham Kerr said the sector was facing challenging times, but that the new firm would "start life with a strong balance sheet, along with high-quality, well maintained, cash generative assets and highly talented people". | South32's chief executive Graham Kerr said the sector was facing challenging times, but that the new firm would "start life with a strong balance sheet, along with high-quality, well maintained, cash generative assets and highly talented people". |
Home prices fall | |
In China, shares fell after data showed that house prices on the mainland had fallen for the eighth consecutive month in April. | |
The average price of new homes in China's 70 major cities fell 6.1% from a year ago - the same rate of decline as in March. | |
Hong Kong's Hang Seng index ended down 0.8% at 27,591.25, while the Shanghai Composite closed down 0.6% at 4,283.49. | |
Another wave of new share sales also kept investors on the sidelines with 20 companies set to launch initial public offerings this week. | |
After trading flat for most of the day, South Korea's benchmark Kospi index closed up 0.34% at 2,113.72. | After trading flat for most of the day, South Korea's benchmark Kospi index closed up 0.34% at 2,113.72. |