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Asian oil shares take a hit, SoftBank debut dissapoints so far

  • Regular
  • Asian Market
  • 1 month ago
  • 16

Asian markets continue their trend of uncertainty, especially after a very flat day in Wall Street.

In China the Shanghai composite was down 0.25%, the Shenzhen composite down by 0.395%, while oil Petrochina shares dropped by 2.89% in Hong Kong and by 1.57% in Shanghai, China Petroleum and Chemical Corp, too, had the same fate by tumbling by 1.89% in Shanghai and by 3.6% in Hong Kong as global oil prices declined.

Over in Japan, the Nikkei225 retreated by 0.66% and the Topix shed 0.59%, as SoftBank Group’s debut on the Tokyo Stock Exchange did not go as planned as it begun trading 6.4% lower than its original IPO price of $13.36 and even lower at 10.8% during afternoon trading.

Having a brighter day was South Korea’s Kospi which inched higher by 0.68% while the ASX in Australia dropped by 0.34% as its oil sector suffered, Origin Energy falling by 5.84% and Woodside Petroleum retreated by 0.34%.

 

 

Source: Smart Trend Team