Asia-Pacific markets trade mixed as banking sector stress lingers

Asia-Pacific markets were mixed on Monday as investors continue to assess the impact of the banking troubles in the U.S and Europe. Deutsche Bank ended the week seeing a selloff of its U.S.-listed shares, after the German lender’s credit default swaps jumped, adding onto lingering fears of contagion from turmoil seen in banking sector. Hong Kong’s Hang Seng index dipped 1.67% and the Hang Seng Tech index fell 2.83% in its final hour of trade. In mainland China, the Shanghai Composite fell 0.44% to finish at 3,251.4, and the Shenzhen Component rose 0.12% to close at 11,647.93. In Australia, the S&P/ASX 200 rose 0.1% to close at 6,962.2, while Japan’s Nikkei 225 gained 0.33% to end at 27,476.87 and the Topix closed 0.33% higher at 1,961.84. South Korea’s Kospi fell 0.24% to close at 2,409.22, while the Kosdaq rose 0.43% to end at 827.59. Wall Street ended its session on Friday with all three major indices higher to record a winning week, with Dow Jones Industrial Average gaining 1.2% week-to-date, while the S&P 500 and Nasdaq Composite climbed 1.4% and 1.7%, respectively.