Taiex Falls Heavily Monday

Shares in Asia-Pacific were mixed on Monday trade as investors reacted to the release of Chinese economic data while also monitoring the COVID situation in places such as Taiwan, which has seen a recent spike in domestic infections.

In Japan, the Nikkei 225 fell 259.64 points, or 0.9%, to 27,824.83.

The Japanese yen traded at 109.18 per U.S. dollar, having weakened last week from levels below 109 against the greenback.

In Hong Kong, the Hang Seng index gained 166.52 points, or 0.6%, to 28,194.09.

Meanwhile, investors also monitored the price of bitcoin. It was trading at $44,775.90 as of early Monday, according to data from Coin Metrics. That came after Tesla CEO Elon Musk clarified in a tweet that the electric vehicle maker “has not sold any Bitcoin.”

Earlier, the price of bitcoin fell below $43,000 U.S. after Musk implied in a Twitter exchange Sunday that Tesla sold or may sell the rest of its holdings in the cryptocurrency.

The Australian dollar changed hands at $0.7763, following last week’s decline from levels above $0.78.


In Shanghai, the CSI 300 amassed 74.79 points, or 1.5%, to 5,184.98.

The moves came following the release of a slew of Chinese economic data. China’s industrial output rose 9.8% year-on-year in April, according to data released Monday by the country’s National Bureau of Statistics. That figure was in line with expectations from a Reuters poll.

Official data also showed retail sales in China jumping 17.7% year-on-year in April. That, however, fell short of expectations in a Reuters poll for a 24.9% increase.

In other markets

In Singapore, the Straits Times index regained 24.67 points, or 0.8%, to 3,079.69.

In Taiwan, the Taiex index dumped 473.2 points, or 3%, to 15,353.89

In Korea, the Kospi index lost 18.8 points, or 0.6%, to 3,134.52

In New Zealand the NZX 50 recovered 42.62 points, or 0.3%, to 12,410.48

In Australia, the ASX 200 picked up 9.32 points, or 0.1%, to 7,023.56