Thu. Jul 7th, 2022

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Asia-Pacific stocks mixed

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Stock in Asia-Pacific stocks were mixed, with South Korean stocks rising again on the back of big gains last week.

South Korea’s Kospi, which had a stellar start to 2021 as it jumped nearly 10% in the first trading week of the year, rose 0.73%.

Shares in South Korea’s auto sector rose again on Monday following a local media report that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars.

Hong Kong’s Hang Seng index advanced 0.67%. Elsewhere, the S&P/ASX 200 in Australia declined 0.75%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.12% higher.

Markets in Japan are closed on Monday for a holiday.

Hyundai Motor shares soared 10.57% while Hyundai Mobis gained 1.67%. Kia Motors also jumped more than 3%. Shares of Hyundai Motor popped more than 19% on Friday following an initial report surrounding the Apple deal.

Mainland Chinese stocks also advanced: The Shanghai composite gained 0.37% while the Shenzhen component rose 0.508%.

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