Market Report – Asian Shares Mixed, Bets on Abbott

In today’s market report… Asian markets were mixed in early trade Monday, as economic growth worries continued to weigh on investor sentiment.

But Australia’s miners rose amid expectations opposition leader Tony Abbott would form the next government and scrap Labour’s proposed mining tax.

The market also found support from reported interest in Foster’s beer operations from Asahi and SAB Miller.

The Australian dollar rebounded from one-month lows hit earlier in the morning.

Tokyo stocks extended losses, as worries about the impact of the yen on corporate earnings grew.

Reaction to news of a phone conversation between the Japanese prime minister and central bank governor on the yen and the economy was muted.

Banking stocks weighed on Hong Kong’s Hang Seng, which was down 0.3% at midday.

Foto: NTDTV