Asian equities closed mostly lower on Monday, as investors remain focused on the mid-week decision from the U.S. Federal Reserve. The Chinese market bucked the trend and closed up, boosted by upticks in shares of brokerages and banks.
Kathy Matsui, managing director and chief Japan strategist at Goldman Sachs Japan told CNBC’s “Asia Squawk Box” that it was not much of a surprise.
“We have a continued slide in the price of oil, so many people think this might reflect a weak global demand, coupled with the prospect that the Fed may start to raise interest rates later this week,” said Matsui. “So people are quite cautious, especially going into the year end when nobody wants to take a lot of risks.”
Shares of NQ Mobile Inc (ADR) (NYSE:NQ) traded low -3.19% during last trading session on a U.S. exchange, closing at $3.34. The company now has a market value of $266.70M. The stock, after recent close, is -10.95% below their SMA 50 and -10.59% below the 52-week high. The worst hit in its 52 week range is $2.80 per share, with $6.54 as its 52 week best price.
NetEase Inc (ADR) (NASDAQ:NTES) closed U.S. trading at $172.53, down -2.62% from previous close. The year-to-date (YTD) performance reflected a 76.39% above last year. During the past month the stock gains 15.36% bringing three-month performance to 50.80% and six-month performance to 17.28% .For this company, beta value at 1.13 represents it is more volatile to the shift in the market.
Qihoo 360 Technology Co Ltd (NYSE:QIHU) settled at $ 71.33 during New York trading, up 0.06% from previous close and at a distance of 5.79% from 20-day simple moving average. In the last trading session, the stock’s price moved 23.65% above its 200 day moving average. The stock is currently trading 18.12% above its SMA 50. This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.63.