Investing.com - Asian stock markets were mixed during late Asian trade on Monday, as investors looked ahead to a speech by Federal Reserve Chairman Ben Bernanke at an annual symposium in Jackson Hole, Wyoming at the end of the week, amid ongoing speculation over how close the U.S. central bank is to implementing more stimulus measures.
During late Asian trade, Hong Kong's Hang Seng Index fell 0.55%, Australia’s ASX/200 Index eased down 0.1%, while Japan’s Nikkei 225 Index ended up 0.2%.
Asian equities have rallied in recent weeks amid growing hopes policymakers in the U.S., Europe and China will introduce fresh easing measures to prop up their respective economies.
Fed Chairman Ben Bernanke told a congressional oversight panel on Friday that the U.S. central bank has room to deliver additional monetary easing to stimulate growth in the U.S. economy.
Growing expectations that the European Central Bank will implement policy measures to help stabilize the euro zone's sovereign debt markets at its next policy meeting in early September further supported the market.
Concerns that the euro zone’s debt crisis is worsening were underlined Friday after German Chancellor Angela Merkel rejected Greek pleas for an extension to its economic reform program.
Europe is a crucial market for the region's exporters.
In Tokyo, the Nikkei ended mildly higher, as sentiment remained supported by ongoing hopes central banks in the U.S. and Europe will provide fresh stimulus measures.
Shares in troubled electronics manufacturer Sharp rose 2.6% after local media reported the company’s management was due to meet with the head of Taiwan’s Hon Hai Precision Industry to discuss the price and size for the latter’s planned investment in Sharp.
Olympus saw shares rally 4.4% after announcing Friday that it plans to sell a mobile-phone sales subsidiary for approximately JPY53 billion.
Elsewhere, shares in Hong Kong came under pressure after markets in mainland China fell to their lowest level since January 2009 earlier in the session, amid growing concerns over a slowdown in corporate earnings.
China’s National Bureau of Statistics said earlier that profits at Chinese industrial companies fell for a fourth month in July. Income dropped 5.4% last month from a year earlier to CNY366.8 billion.
Index heavyweight China Life Insurance was the biggest drag on the Hang Seng, slumping 3.85%, while Ping An shares lost 3.25%.
Meanwhile, shares in Australia reversed earlier gains to end modestly lower, as shares in lenders and miners gave up earlier gains.
Looking ahead, the outlook for European stock markets was mildly downbeat, as concerns over the long running debt crisis in the euro zone weighed on sentiment.
The EURO STOXX 50 futures pointed to a loss of 0.25% at the open, France’s CAC 40 futures dipped 0.3%, London’s FTSE 100 futures eased down 0.1%, while Germany's DAX futures pointed to a fall of 0.2% at the open.
Market participants were looking ahead to Germany's Ifo business climate index later in the day, amid concerns over the economic impact of the debt crisis on the region’s largest economy.
Investors were also anticipating a speech by senior ECB policymaker Joerg Asmussen later Monday.
During late Asian trade, Hong Kong's Hang Seng Index fell 0.55%, Australia’s ASX/200 Index eased down 0.1%, while Japan’s Nikkei 225 Index ended up 0.2%.
Asian equities have rallied in recent weeks amid growing hopes policymakers in the U.S., Europe and China will introduce fresh easing measures to prop up their respective economies.
Fed Chairman Ben Bernanke told a congressional oversight panel on Friday that the U.S. central bank has room to deliver additional monetary easing to stimulate growth in the U.S. economy.
Growing expectations that the European Central Bank will implement policy measures to help stabilize the euro zone's sovereign debt markets at its next policy meeting in early September further supported the market.
Concerns that the euro zone’s debt crisis is worsening were underlined Friday after German Chancellor Angela Merkel rejected Greek pleas for an extension to its economic reform program.
Europe is a crucial market for the region's exporters.
In Tokyo, the Nikkei ended mildly higher, as sentiment remained supported by ongoing hopes central banks in the U.S. and Europe will provide fresh stimulus measures.
Shares in troubled electronics manufacturer Sharp rose 2.6% after local media reported the company’s management was due to meet with the head of Taiwan’s Hon Hai Precision Industry to discuss the price and size for the latter’s planned investment in Sharp.
Olympus saw shares rally 4.4% after announcing Friday that it plans to sell a mobile-phone sales subsidiary for approximately JPY53 billion.
Elsewhere, shares in Hong Kong came under pressure after markets in mainland China fell to their lowest level since January 2009 earlier in the session, amid growing concerns over a slowdown in corporate earnings.
China’s National Bureau of Statistics said earlier that profits at Chinese industrial companies fell for a fourth month in July. Income dropped 5.4% last month from a year earlier to CNY366.8 billion.
Index heavyweight China Life Insurance was the biggest drag on the Hang Seng, slumping 3.85%, while Ping An shares lost 3.25%.
Meanwhile, shares in Australia reversed earlier gains to end modestly lower, as shares in lenders and miners gave up earlier gains.
Looking ahead, the outlook for European stock markets was mildly downbeat, as concerns over the long running debt crisis in the euro zone weighed on sentiment.
The EURO STOXX 50 futures pointed to a loss of 0.25% at the open, France’s CAC 40 futures dipped 0.3%, London’s FTSE 100 futures eased down 0.1%, while Germany's DAX futures pointed to a fall of 0.2% at the open.
Market participants were looking ahead to Germany's Ifo business climate index later in the day, amid concerns over the economic impact of the debt crisis on the region’s largest economy.
Investors were also anticipating a speech by senior ECB policymaker Joerg Asmussen later Monday.