Asian Equities Start Mixed In Central Bank Heavy Week

(RTTNews) - Asian markets finished Monday's trading on a mixed note at the outset of a new week marked by monetary policy decisions by the Federal Reserve, Bank of Japan as well as Bank of England. Minutes of Reserve Bank of Australia are also due for release early this week. Meanwhile, Japanese markets are closed for a holiday.

China's Shanghai Composite Index gained 8 points or 0.26 percent to finish trading at 3,125.93. The day's trading ranged between 3,128.70 and 3,098.50. The Shenzhen Component Index added 55 points or 0.55 percent to close at 10,200.04.

The Hang Seng Index of the Hong Kong Stock Exchange shed 252 points or 1.4 percent from the previous close to finish trading at 17,930.55. The day's trading range was between a high of 18,114.82 and a low of 17,894.81.

Korean Stock Exchange's Kospi Index declined 27 points or 1.02 percent to close trading at 2,574.72. The day's trading range was between 2,573.26 and 2,596.55.

Australia's S&P/ASX200 closed trading at 7,230.40, shedding 49 points or 0.67 percent. The index has gained more than a percent in the last five days but sits 4.46 percent below its 52-week high. The day's trading range was between 7,223 and 7,279.

Paladin Energy rallied 4.19 percent. ASX, Fisher & Paykel Healthcare Corp, Alumina and Auckland International Airport, all gained more than 1 percent.

Silver Lake Resources plunged 8.3 percent. Brainchip Holdings and Syrah Resources, both dropped more than 6 percent. Healthcare business Polynovo and investment business Washington H Soul Pattinson, both declined more than 5 percent.

The NZX 50 of the New Zealand Stock Exchange added 48 points or 0.42 percent to close at 11,397.00. Trading ranged between 11,312.80 and 11,405.39.

Fonterra Shareholders Fund topped with gains of 4.1 percent followed by Restaurant Brands New Zealand that rallied 3.7 percent. Summerset Group Holdings, Spark New Zealand and Scales Corporation, all gained more than 1 percent.

Synlait Milk plunged 9.4 percent following second-largest shareholder a2 Milk cancelling exclusive manufacturing and supply rights for some of its infant milk formula products. Vista Group International dropped 4 percent, followed by Manawa Energy and Precinct Properties New Zealand that both declined more than 3 percent. Tourism Holdings declined 2.4 percent.

Wall Street had closed with deep losses on Friday, amidst anxiety ahead of the Fed's review due on Wednesday. The massive options expiration on the third triple witching day of 2023 also contributed to the volatility. Nasdaq Composite had plunged 1.6 percent to close at 13,708.33 whereas the Dow Jones Industrial Average had dropped 0.83 percent to finish trading at 34,618.24.