Asia-Pacific Stocks Mixed; Shimao Group Shares Climbed

On Monday, Asia-Pacific stocks grappled for direction as investors positioned themselves for a volatile week amid the surge of coronavirus cases. 

In Hong Kong, the Hang Seng index elevated 0.80% or 188.01 points to $23,681.39 per share. 

Correspondingly, shares of Shimao Group Holdings soared 3.19% or 0.02 points to $0.62 per share. 

The upturn came after reports revealed that the embattled residential property company would sell its real estate projects. The sale will include residential and commercial plans.

At the top of the index, Alibaba Health Information Technology boosted 11.62% or 0.09 points to $0.90 per share.

Meanwhile, China Life Insurance lowered 1.90% or 0.07 points to $3.84 per share. 

The decline came after officials placed Chairman Wang Bin under investigation amid the state anti-graft probe.

Mainland Chinese shares also edged up against their major peers on the Asia-Pacific stocks. 

The country’s Securities Regulatory Commission stated that they would adopt measures to avoid the volatility in the market.

In addition, the office said that they ensure to prevent significant fluctuations.

Accordingly, the Shanghai Composite index advanced 0.25% or 8.86 points to $3,588.40 per share. 

Likewise, the Shenzhen Component traded 0.51% or 72.57 points higher to $14,416.22 per share. 

KOSPI Down on Mixed Trade of Asia-Pacific Stocks

Conversely, South Korea’s KOSPI skidded 0.90% or 26.53 points to $2,928.36 per share. 

KOSDAQ Composite index also slashed 1.34% or 13.32 points to $981.84 per share. 

In India, the benchmark BSE SENSEX jumped 0.75% or 446.47 points to $60,191.12 per share. 

Similarly, the NIFTY 50 index gained 0.83% or 142.60 points to $17,958.50 per share. 

In Australia, the S&P/ASX 200 shed 0.08% or 6.20 points to $7,447.10 per share. 

Subsequently, shares of miners strengthened in the index. Rio Tinto increased 2.58% or 1.92 points to $76.43 per share. 

Meanwhile, markets in Japan closed today in line with their holiday. 

Overall, the MSCI index of Asia-Pacific stocks outside Japan inched up 0.48% or 2.98 points to $628.79 per share.

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