Asian markets meander in narrow trading

Published: June 05, 2018 12:21:42 | Updated: June 07, 2018 12:11:53

File Photo (Collected)

Asian share markets were mixed Tuesday in narrow trading as investors watched the tit-for-tat exchanges between the US and China over trade.

Japan's benchmark Nikkei 225 index rose 0.1 per cent to 22,497.89 but South Korea's Kospi lost 0.1 per cent to 2,445.37. Hong Kong's Hang Seng rose 0.1 per cent to 31,028.83.

The Shanghai Composite in mainland China gained 0.2 per cent to 3,096.53. Australia's S&P/ASX 200 dipped 0.3 per cent to 6,008.20. Taiwan's benchmark fell but Southeast Asian indexes were mixed.

Technology companies drove the Nasdaq composite index to an all-time high on Monday, reports AP.

Apple shares gained 0.8 per cent to $193.83 as it previewed new features and software updates at its Worldwide Developers Conference.

Shares of Google's parent company, Alphabet, rose of 1.6 per cent to $1,153.04. Microsoft rose 0.9 per cent to $101.67 after the company said it will pay $7.5 billion in stock for GitHub.

Facebook fell, however, on new privacy concerns, losing 0.4 per cent to finish at $193.28.

In other trading, the S&P 500 index gained 0.5 per cent to 2,746.87 and the Dow Jones industrial average jumped 0.7 per cent to 24,813.69.

Oil futures recovered after speculation that supply could be raised at an OPEC summit later this month subsided.

US crude gained 37 cents to $65.12 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 1.6 per cent to settle at $64.75 per barrel on Monday.

Brent crude, used to price international oils, rose 18 cents to $75.47 in London.

The dollar rose to 109.87 yen from 109.58 yen in late trading Monday. The euro weakened to $1.1692 from $1.1719.

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