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Asian Markets Mixed Amid Fresh Brexit Uncertainties

Investing.com - Asian markets were mixed in morning trade on Monday amid fresh uncertainties over Brexit.

The Shanghai Composite and the Shenzhen Component both slipped 0.1% by 10:30 PM ET (02:30 GMT).

The National Bureau of Statistics data showed Monday that China’s new-home prices rose 0.53% in September from August in 70 major cities. Meanwhile, Beijing unexpectedly kept its one-year Loan Prime Rate (LPR) unchanged at 4.2%. The five-year LPR was fixed at 4.85%, also unchanged from September.

Hong Kong’s Hang Seng Index climbed 0.2%.

The Nikkei 225 also gained 0.2%. Japan’s exports in September fell 5.2% year-on-year, Ministry of Finance data showed on Monday, dragged down by car parts and semiconductor production equipment.

South Korea’s KOSPI inched up 0.1%. Data from the Korea Customs Service showed that the country’s exports in the first 20 days of October were down 20% from a year earlier.

In the U.K., politicians failed to deliver the Brexit vote that had been promised at the weekend. The country’s prime minister, Boris Johnson, is now legally bound to ask the EU for another extension to negotiations.

On the Sino-U.S. trade front, China’s Vice Premier Liu He confirm that Beijing and Washington “have made substantial progress in many aspects” and that they have “laid an important foundation for a phase one agreement.”

He reiterated that China is “willing to work in concert with the U.S. to address each other’s core concerns on the basis of equality and mutual respect.”

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