3/27, 7:11 AM (Source: TeleTrader)
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Asia-Pacific trades mostly lower amid banking sector, data

Asia-Pacific markets traded mostly lower Monday amid news on the banking sector and new regional economic updates. The markets still are assessing the impact of banking problems in the US and Europe.

On the data front, it was known that China's industrial profit declined 22.9% in the January to February period compared to a year ago, according to data published by the government. However, International Monetary Fund Managing Director, Kristalina Georgieva, said China is showing signs of robust economic recovery.

Japan's Nikkei 225 grew by 0.48%, while Australia's S&P/ASX 200 rose 0.10% at 7:06 am ET. A minute later, South Korea's Kospi decreased by 0.20%.

In mainland China, at 6:51 am CET, the Shenzhen Composite fell 0.69%, while the Shanghai Composite declined 0.91% at 7:08 am CET. On the other hand, Hong Kong's Hang Seng lost 0.99%. The dollar was flat compared to the Japanese yen at 7:09 am CET, trading for ¥130.7335.

Baha Breaking News (BBN) / JG