The Japanese stock market ended on Friday with a loss. Investors took some gas back after the strong gains earlier this week and were particularly looking forward to the G20 summit to be held in Japan next week. US President Donald Trump and his Chinese counterpart Xi Jinping will meet at this summit and the markets hope they will breathe new life into the stalled trade talks.
The Nikkei in Tokyo went 1 percent lower the weekend at 21,258.64 points. The Japanese main index rose 0.7 percent this week. The oil companies were in demand thanks to the sharp rise in oil prices due to the increasing political tensions between the United States and Iran. Inpex gained 4.5 percent and Japan Petroleum Exploration gained 3.9 percent. Banks and insurers went down due to speculation on an early interest rate cut in the US. Mitsubishi UFJ Financial Group and MS&AD Insurance decreased 0.8 and 1.2 percent.
The stock market in Shanghai continued its rise due to the hope of a trade agreement between China and the US and, in the meantime, rose 0.4 percent higher. In Hong Kong, the Hang Seng index fell 0.6 percent and the Kospi in Seoul dropped 0.4 percent. The All Ordinaries in Sydney closed 0.7 percent in the min.