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Asian stocks try to extend last week gains, but fail

Asia's stock markets briefly extended growth from last week on Monday morning, but soon there some caution appeared in anticipation of the coming difficult season for profit in the United States.

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In a document published on the government’s website late on Sunday evening, Beijing announced that it intends to intensify a policy of targeted cuts of the banks’ reserve requirements to stimulate financing for small and medium-sized businesses.

Hong Kong’s Hang Seng was the only one in green territory on Monday, at 6.34 GMT, with an increase of 0.24 percent to 30,009.09.

The broadest MSC’s index of Asia-Pacific region outside of Japan rose by 0.10 percent to 162.53 at 6.31 GMT.

Japan’s Nikkei, meanwhile, fell 0.21 percent to 21,761.65, while Australia’s ASX 200 jumped 0.65 percent to 6,221.14.

Taiwan’s stock market gained 0.90 percent in weight to 10,800.57, while in Singapore and Indonesia the markets fell by 0.16 and 0.32 percent, respectively.

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