Asian stock market were mixed Monday, as exchanges opened higher on Friday Wall Street records, but largely drifted thereafter. Shanghai and Hong Kong gained, with Tokyo was closed on holiday. Other exchanges were uneven. Oils declined and the dollar gained, as the outlook for a stronger U.S. dollar and higher interest rates received a boost on a generally good Friday U.S. jobs report. The Chinese yuan declined.
The Hong Kong Hang Seng Index rose 0.25%, as traders viewed Friday Wall Street closes and same-day gains in Shanghai. Advances were pared in the afternoon session on U.S. dollar strength, and interest-rate concerns. The Hong Kong dollar is pegged to the U.S. dollar, so interest rate hikes and tighter money in Washington, D.C. have a direct impact on business and real estate in the former crown colony. The broad measure Heng Seng rose 55.68 to 22,558.69, as gaining issues outnumbered losers 29 to 18.