Stock indices in Japan and South Korea are rising on Monday while the Chinese indicator is sinking.
Australian and Hong Kong markets are closed due to the Easter holiday.
Japan’s Nikkei 225 stock index is up 0.4% in trading thanks to data on rising consumer confidence in the country.
Japan’s Consumer Confidence Index in March rose to a maximum of 33.9 points from 31.1 points a month earlier in May last year, according to official statistical data. The consensus forecast of experts quoted by Trading Economics had expected the index to rise to 31.9 points.
Indicators of personal income growth, employment, general standard of living and consumers’ willingness to buy durable goods rose in March.
Shares of Fast Retailing, owner of the Uniqlo brand, gained 1.6 percent in trading. Nintendo rose 3.8%, Sony gained 0.4% and Toyota Motor gained 0.2%.
Among the leaders of growth in Japan on Monday are shares of shipping companies. Nippon Yusen shares gained 3.2%, Mitsui OSK Lines gained 2.1% and Kawasaki Kisen Kaisha gained 1.9%.
The share price of Japan Display Inc. soared 21%. The Japanese company said Monday it has signed a memorandum of understanding with China’s HKC Corp. to form a strategic alliance to develop operations in OLED technology.
Japan Display and HKC plan to jointly build facilities to produce next-generation OLED displays and intend to launch mass production in 2025.
South Korea’s KOSPI stock index is adding 0.9 percent in trading.
Shares of Samsung Electronics rose 1.1% despite the weak preliminary report of the South Korean maker of smartphones and semiconductor components for the first quarter.
The company’s January-March operating profit fell 20 times in the quarter, according to preliminary data released after the market closed Friday.
Samsung also said Friday that it intends to “significantly” cut production of certain types of memory chips to streamline manufacturing operations.
South Korea’s government said late last week that it would direct 7 trillion won ($5.32 billion) over the next five years to financially support local battery manufacturers planning to build facilities in North America.
LG Electronics Inc. shares, which also released preliminary earnings Friday, are down 1.1%. The company reported a 23% decline in operating profit in the first quarter.
Shares of LG Energy Solution Ltd. rose 2.6%. The battery maker, according to preliminary estimates, increased operating profit nearly 2.5 times in the first quarter, beating experts’ expectations.
China’s Shanghai Composite stock index is losing 0.2%. Traders are worried about another round of tensions in U.S.-China relations after a meeting in the U.S. between current U.S. House Speaker Kevin McCarthy and Taiwanese Chief of Staff Tsai Ing-wen.
The Chinese army began massive military exercises around Taiwan on April 8, which an army spokesman said were “a warning to separatist forces advocating Taiwanese independence and a necessary measure to protect China’s sovereignty and territorial integrity.”
Shares of Chinese anti-virus developer 360 Security Technology lost 10% in trading, electronics maker Changsha Jingjia Microelectronics Co. – 14%, and alcohol producer Wuliangye Yibin 2.7%.
Japanese Prime Minister Fumio Kishida will visit Ukraine on March 21 at the invitation of Ukrainian President Vladimir Zelensky and then travel to the Republic of Poland on March 22, the Japanese Foreign Ministry said.
According to the Foreign Ministry website, Prime Minister Kishida will express his respect to President Zelensky for the courage and resilience of the Ukrainian people who have stood up for their country.
“Prime Minister Kishida, as Japan and the G7, which Japan chairs, will explicitly convey our solidarity and unwavering support for Ukraine,” the ministry said.
Kishida will also strongly oppose Russian armed aggression and reiterate his determination to uphold an international order based on the rule of law.
In Poland, the leaders will reaffirm their commitment to strengthening bilateral cooperation as well as cooperation in international forums, including in response to Russia’s aggression against Ukraine, based on a strategic partnership with Poland.
Kishida will return to Japan on the morning of March 23.
The Embassy of Japan in Ukraine has officially resumed its work in Kyiv.
“We are back and ready to work together with Ukraine for the sake of victory! On Wednesday, October 5, the Japanese Embassy in Ukraine officially resumed work in Kyiv. Japan will further strengthen cooperation between Ukraine and Japan and help restore and rebuild Ukraine. Japan together with Ukraine!” the embassy said on its Twitter page on Wednesday.
It is emphasized that the consular section of the embassy is still closed.
President of Ukraine Volodymyr Zelensky has thanked Prime Minister of Japan Yoshihide Suga and invited him to Kiev to celebrate the Independence Day of Ukraine.
“Glad to talk to Japanese Prime Minister Yoshihide Suga. Grateful to Japan for supporting Ukraine’s territorial integrity. The support of G7 & in particular Japan, one of our key partners, is crucial. I’ll be glad to see you in Kyiv at the celebration of Ukraine’s IndependenceDay & at the Crimean Platform summit,” Zelensky wrote on Twitter on Wednesday.
Japanese corporation Sumitomo will acquire a 51% stake in Spectr-Agro LLC (Kyiv region), a supplier of mineral fertilizers, seeds and equipment to Ukrainian agricultural enterprises. A corresponding agreement was signed between the corporation, Spectr-Agro and Spectr-Agrotechnika LLC on July 11, the Ukrainian company said on Facebook.
“Over 30 years ago, Sumitomo founded the agri-scientific business line (ASBL), starting with the export of plant protection products from Japan, Sumitomo is actively engaged in expanding the supply chain, constantly developing wholesale and retail distribution channels. Today, this activity is carried out in 30 countries around the world. The acquisition of Spectr-Agro is a continuation of the development of Sumitomo’s business in trading in agricultural resources,” the report said.
Spectr-Agro is expected that the acquisition transaction will contribute to the expansion and growth of the company’s activities in Ukraine.
Spectr-Agro was founded in 2009, currently it operates throughout Ukraine. It supplies such agricultural resources as plant protection products, mineral fertilizers, seeds and agricultural equipment to more than 3,500 agricultural producers in the country.
As of October 2017, the company was co-owned by Vasyl Skarlat with a 50% stake, Maria Lavreniuk with 25%, and Volodymyr Lobach with 25%.
In the third quarter of 2017, the company posted UAH 28.205 million in net profit, its revenue was UAH 2.999 billion.
