Mainland China markets jump more than 1% after returning from Lunar New Year holidays in mixed Asia trading

Key Points

• Asia-Pacific stocks were mixed in Monday trade.
• Mainland China markets jumped as they returned to trade on Monday after being closed last week for the Lunar New Year holidays.
• Investors will continue to monitor the situation around Ukraine, with White House national security adviser Jake Sullivan warning Sunday of an imminent Russian invasion.

SINGAPORE — Shares in Asia-Pacific were mixed in Monday trade, with mainland China markets reopening following the Lunar New Year holidays last week.

In morning trade, the Shanghai composite jumped 1.92% while the Shenzhen component gained 1.307%. Both indexes had jumped about 2% each earlier. Hong Kong’s Hang Seng index, on the other hand, slipped 0.59%.

In Japan, the Nikkei 225 dipped 0.86% while the Topix index declined 0.42%. South Korea’s Kospi shed 0.85%.

Elsewhere, the S&P/ASX 200 in Australia shed 0.16%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.22% lower.

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Investors continued to monitor the situation around Ukraine, with White House national security adviser Jake Sullivan warning Sunday that a Russian invasion could be imminent.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.513 after its recent decline from above 95.9.

The Japanese yen traded at 115.30 per dollar, following last week’s weakening from levels below 114.4 against the greenback. The Australian dollar was at $0.7076, off levels above $0.714 seen last week.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.41% to $93.65 per barrel. U.S. crude futures also climbed 0.06% to $92.37 per barrel.

Source : CNBC