Asian Markets Broadly Lower

The Asian markets were broadly lower by the afternoon trade session on Monday. The stock and financial markets in Hong Kong and Australia remains closed for the Easter Monday holiday. Traders are digesting a massive terror attack in Sri Lanka that killed hundreds as well as the end of oil wavers on Iranian oil exports.

Over the weekend, the Washington post released a report that the United States will shortly end waivers on oil exports from Iran. They would enforce a global ban which sent the price of crude oil futures higher.

As of 12:30 pm Hong Kong time, the MSCI Asian index, that does not include Japanese shares, was down 0.30 percent at 542.00.

The Asian benchmark in Japan, the Nikkei 225, was up a fraction. Shares of blue chip stocks, Fast Retailing, Softbank Group and Fanuc all traded lower. The broader Topix index, in Tokyo, was trading near the flat line.

In South Korea, the South Korean Asian benchmark, the Kospi composite index was trading down by 0.24 percent. Shares of chip maker SK Hynix were down 1.95 percent.

Asian Benchmarks in China Trade Lower

On Sunday, in Sri Lanka, series of terror attacks killed 290 and wounded over 500 Easter worshipers. No terror group has claimed responsibility for this heinous attack. This morning the Sri Lanka benchmark stock index was closed for trading.

On the mainland, in China, the benchmark stock indices were trading lower. The benchmark Shanghai composite lost 1.39 percent.  The smaller Shenzhen composite was down 1.213 percent. The Shenzhen component was trading down 1.60 percent during the afternoon trade hours.