Asia's stock markets mixed after G-20 spares Japan from currency rebuke
HONG KONG (AFP) - Asian markets were mixed on Monday, with Tokyo surging thanks to a weakening yen after a weekend G-20 meeting ended without accusing Japan of orchestrating a recent slide in its currency.
The Japanese unit resumed its downward trend as dealers welcomed the end of the Moscow talks, which came amid concerns that Japan's new aggressive monetary policy could spark a currency war.
Tokyo climbed 2.09 per cent, or 234.04 points, to 11,407.87 and Sydney added 0.59 per cent, or 29.5 points, to end at 5,063.4, around highs not seen for about four-and-a-half years thanks to strong corporate results. Seoul was flat, edging up 0.73 points to 1,981.91.
However, Hong Kong eased 0.27 per cent, or 62.62 points, to 23,381.94, while Shanghai, returning after a week-long Chinese New Year break, fell 0.45 per cent, or 10.84 points, to 2,421.56.