Asia-Pacific markets traded mixed Monday as investors assessed ongoing geopolitical concerns.
In Japan, the Nikkei 225 plummeted 961.62 points, or 1.8%, to 52,885.25.
Hong Kong’s Hang Seng index gained 16.01 points, or 0.1%, to 26,765.52.
On Sunday stateside, Canadian Prime Minister Mark Carney said that his country has no intention of pursuing a free trade agreement with China, after U.S. President Donald Trump threatened to impose 100% tariffs on Ottawa if it signed a trade deal with China.
“Canada respects our engagements, our commitments. We have commitments under CUSMA (Canada-United States-Mexico Agreement) that not to pursue free trade agreements with non-market economies without prior notification. We have no intention of doing that with China or with other non-market economy,” Carney said.
The Japanese yen last strengthened 0.93% to trade about 154.21 against the U.S. dollar.
Investors will continue keeping a close eye on Japanese stocks and the yen after Japan’s prime minister signaled to counter speculative market activity on a sharp yen strengthening Friday, warning that authorities stand ready to act if volatility intensifies.
Separately, the Singapore dollar strengthened to 1.271 per dollar, its highest in over a decade.
In other markets
The CSI 300 in Shanghai pointed higher 4.47 points, or 0.1%, to 4,706.96.
In Korea, the Kospi dropped 40.48 points, or 0.8%, to 4,949.59.
In Taiwan, the Taiex vaulted 130.01 points, or 0.3%, to 31,961.51.
In Singapore, the Straits Times Index lost 30.52 points, or 0.6%. to 4,860.93.
Markets in Australia and New Zealand were closed for holiday.
