Asia report: Markets mixed as US government remains shut

Markets in Asia were mixed on Monday, with investors keeping one eye on the United States and the ongoing government shutdown there.

In Japan, the Nikkei 225 eked out gains of 0.03% to 23,816.33, as the yen held steady against the dollar at JPY 110.77.

Carmakers were mixed on the Tokyo bourse, with Mitsubishi Motors rising 1.74% while Toyota was down 0.78%.

Technology plays were predominantly higher, as SoftBank Group added 0.95% and Sony advanced 1.09%.

Toshiba surged 4.35% after reports that the firm was investigating the possibility of listing its memory division, should the $18bn sale of the business to a consortium led by Bain Capital fail to gain regulatory approval by the end of March.

On the mainland, the Shanghai Composite was ahead 0.39% at 3,501.36, and the smaller, technology-heavy Shenzhen Composite rose 1.16% to 1,943.91.

South Korea’s Kospi lost 0.72% to 2,502.11, while the Hang Seng Index in Hong Kong was up 0.43% at 32,393.41.

Technology stocks were mixed in Seoul, with LG Display rising 0.99% while chip manufacturer SK Hynix fell 3%.

Central banks were set to be high on the agenda in the coming week, with the Bank of Japan kicking off its two-day monetary policy meeting on Monday, although no major changes were expected.

Over in Europe, the European Central Bank was set to make its next decision on eurozone interest rates on Thursday.

Oil prices were lower, with Brent crude last down 0.06% at $68.57 per barrel and West Texas Intermediate losing 0.03% to $63.29.

In Australia, the S&P/ASX 200 fell 0.23% to settle at 5,991.90, led lower by the hefty financials subindex, which lost 0.78%.

Of the major banks, Commonwealth Bank of Australia slid 1.23%, while National Australia Bank fell 0.55% amid reports it was considering spinning out and listing its wealth business.

Across the Tasman Sea, the S&P/NZX 50 was up 0.5% at 8,335.36, with infant food and dairy products exporter A2 Milk rallying 3.5%, while casino operator SkyCity dropped 1%.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.21% at AUD 1.2485 and the Kiwi advancing 0.39% to NZD 1.3690.