Asia report: Shares mixed after attack on Saudi oil production
By Frank Prenesti
Date: Monday 16 Sep 2019
(Sharecast News) - Asian stocks closed mixed on Monday with oil prices surging after the weeken drone attacks on production facilities in Saudi Arabia.
Chinese stocks were flat, with the Shanghai composite down slightly at 3,030.75.
A cut in the reserve requirement ratio for banks by the People's Bank of China came into effect on Monday. The central bank said recently it the ratio would be cut by 50 basis points, with a further 100 basis point reduction for some qualified banks.
Australia's S&P/ASX 200 closed slightly higher at 6,673.50 as energy stocks propped up a broadly weaker market. Japanese markets were closed for a holiday.
BHP shares gained more than 6% at one point in early trade in response to the Saudi attack, and closed the day 3% higher at $38.
Hong Kong's Hang Seng fell in late trading, with shares of Hong Kong Exchanges and Clearing down 2.16% after the London Stock Exchange Group last Friday rejected its takeover offer.
The South Korean Kospi index rose 0.64% to close at 2,062.22.
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