Beijing, August 21, 2023, Asian stocks were mixed Monday as traders looked ahead to the Federal Reserve’s summer conference for signs of whether the US central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Shanghai and Hong Kong retreated while Tokyo and Seoul advanced. Oil prices rose.
The Shanghai Composite Index lost 0.4% to 3,119.04 while the Nikkei 225 in Tokyo advanced 0.4% to 31,573.96. The Hang Seng in Hong Kong lost 1.3% to 17,713.68.
The Kospi in Seoul gained 0.1% to 2,507.16 while Sydney’s S&P-ASX 200 shed 0.3% to 7,124.60.
In energy markets, benchmark US crude gained 45 cents to $81.11 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oil trading, advanced 46 cents to $85.26 per barrel in London.
The dollar edged up to 145.38 yen from Friday’s 145.32 yen. The euro rose to $1.0880 from $1.0878.
