Hang Seng gains
After falling on Friday, the Hang Seng Index started the week of the G20 meeting on a positive note. The index gained 0.14% today. Last week, the index gained 5% with Friday being the only loss during the week. The index rose in early trading but gave up some of the gains after that. The AIA Group (AAGIY) gained 0.18% on the Hong Kong stock exchange. On Friday, AIA Group’s ADRs gained 0.59% in the US. On Friday, the iShares MSCI Hong Kong ETF (EWH) lost 0.73% to end the week with a 3.7% gain.
Nikkei posts a comeback
After falling 0.95% on Friday, Japan’s Nikkei 225 posted a comeback today with 0.13% gains. Out of 225 constituents, 125 gained today while 94 retreated. After falling 2.25% on Friday, Sony (SNE) recovered by gaining 1.84% today on the Tokyo Stock Exchange. American Depository Receipts of Sony trade on the NYSE. ADRs of Sony Corp lost 1.3% on Friday. We may see a recovery in ADRs today. The broader TOPIX index gained 0.12% today.
On Friday, the iShares MSCI Japan ETF (EWJ) lost 0.98% to post 0.85% weekly gains. Today, Japan’s Cabinet Office released revised leading economic indicators data for April 2019. The index came in at 95.9, indicating worsening business conditions. However, the index was above the market expectation of 95.7.