Asian Market and Japan Stocks Plunge

In the early morning trade on Monday, the Asian market traded mostly lesser. Meanwhile, as a Nasdaq-style new technology board in Shanghai launched, Chinese stocks fell.

The Shanghai Composite glided 0.8% while the Shenzhen Component dropped 0.6%.

A new tech board includes 25 companies. The Science and Technology Innovation Board launched it.

In attempting to boost the credibility of its volatile stock market, China came up with that idea.

Relating to Hong Kong’s counterpart, Shanghai’s new Board will permit still-unprofitable hi-tech companies to unveil IPOs on the exchange.

Meanwhile, a raging mob was reported in unprecedented late-night violence in Hong Kong. Members of the public in the Yuen Long MTR station were assaulted, including journalists.

According to reports, the officers did not respond to queries and no one got arrested.

The assistant commander of Yuen Long District, Yau Nai-Keung, said, “We have not made any arrests because we ‘can’t be sure of those involved.”

In addition, he also said, “Even those dressed in white, that ‘doesn’t mean they are involved in the brawl. We will handle each case fairly – no matter the political camp a suspect belongs to.”

Due to the violence that did not appear to be a significant directional driver, markets in Hong Kong were down.

The Hang Seng Index last traded in the Asian market at 28,555.0, below 0.7%.

Japan’s Nikkei 225 traded 0.4% lesser, while South Korea’s KOSPI was little moved at 2,095.88.

This morning, data from the Korea Customs Service showed the ‘country’s exports for the first 20 days this month declined 13.6% from a year before.

Imports during the period fell 0.3% year-on-year. Down under, Australia’s ASX 200 was also near flat at 6,704.40.

Trading Weak Japan Stocks

Meanwhile, Japan stocks weakened after the close on Monday. Leading the shares lower were the Paper & Pulp, Railway & Bus, and Real Estate sectors.

The Nikkei 225 dropped 0.23% at the close in Tokyo.

On the Nikkei 225’s session, the best performers were Chiyoda Corp., gaining 5.28% or 17.0 points to trade at 339.0 at the close.

IHI Corp. increased 3.29% or 83.0 points to end at 2603.0 and Taiyo Yuden Co., Ltd. grew 3.27% or 69.0 points to 2176.0 in late trade.

On the flip side, Nikkei 225’s worst performers in the Asian market were Asahi Group Holdings, Ltd., plunging 8.87% or 447.0 points to trade at 4591.0 at the close.

Part of the worst performers includes Toho Co., Ltd., which declined 6.07% or 280.0 points to end at 4335.0, and Nippon Meat Packers, Inc decreased 3.26% or 145.0 points to 4300.0.

On the Tokyo Stock Exchange, dropping stocks outnumbered advancing ones by 1997 to 1456 and 265 ended unchanged.

The Nikkei Volatility gauging the implied volatility of Nikkei 225 options was not changed from 0.00% to 14.59.

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August delivery for Crude oil increased by 1.73% or 0.96 to $56.59 a barrel.

Elsewhere in commodities trading, September Brent oil delivery grew 2.08% or 1.30 to kick $63.77 a barrel; also, the August Gold Futures contract added 0.12% or 1.65 to trade at $1428.35 a troy ounce.

USD/JPY improved 0.16% to 107.88, while EUR/JPY heightened 0.17% to 120.97.

The US Dollar Index Futures rose 0.07% at 96.887.