The markets in Asia recorded highs on Monday. Despite the weak trends of the yen, Japanese stocks also advanced, while similar trends were observed in the Australian market, with high earnings helping the market reach a new multiple year high. With the Nikkei Stock Average moving ahead 2.1% to a value of 11407.87, Japanese stock market were boosted by the weaker movements of the yen.
The G20 meeting, which was held in Moscow, came to a close, with its members agreeing to desist their targets related to currencies policies, to earn better advantages. It was also a point of focus, as Japan was not singled out in association with the volatile trends of the yen’s exchange rate at the current time. With expectations that the new government may concentrate on strict monetary policies, the yen had recorded steep depreciative trends since the close of previous year.
Kospi Composite, of South Africa, went up by a value lower than 0.1% to 1981.91, while the Hang Seng Index in Hong Kong was noted to fall 0.3% at a value of 23381.94. Mitsubishi UFJ Financial Group was seen to have moved up 4.9%, while Mitsui Fudosan, real estate firm, increased 3.8%, with gains noted for banks and real estate. Shanghai Composite Index closed lower 0.5% at a value of 2421.56, and stocks in mainland China were observed to be lower.
A look over at the European markets showed that low closings and markets in U.S. remain closed on Monday. Loss of 0.2% was recorded for the Stoxx Europe 600 index, which closed at 286.76, and showing downward trends for the third consecutive day. Telefonica SA also witnessed a fall in shares by 1.1%. On the positive side, Natixis recorded a high in the shares, with a rise of 22.5%, and the French bank reported its intentions to sell assets estimated at EUR12.1 billion, for the simplifications of the structure. Consequent to the Bundesbank monthly report related to avoiding recession, focusing on growth for the first quarter of 2013, and an improving industrial sector, German shares recorded an increase. The FTSE 100 index closed down 0.2% at 6,318.19.