Asian markets fell ahead of Chinese manufacturing data, while Softbank shares slid in Tokyo after the listing of Alibaba.
Investorsweare cautious before of the release of a preliminary manufacturing survey of China’s factory activities.
The Purchasing Managers’ Index (PMI) from financial institution HSBC is due on Tuesday.
Japan’s benchmark Nikkei index closed down 115.27 points, or 0.7%, at 16,205.90.
In Hong Kong, the Hang Seng index ended the day down 350.67 points, or 1.4%, at 23,955.49.
Softbank slide
Among individual companies, Softbank shares fell 6.1% on profit-taking, following the listing of China’s Alibaba on the New York Stock Exchange last week.
Softbank has a 32% stake in Alibaba, and shares of the Japanese company have surged by around 30% in anticipation of Alibaba’s listing.
Alibaba’s shares surged 38% on its first day of trade in New York, to close at $93.89 per share from the issue price of $68.
via BBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.