ECONOMICS: Asian Shares End Week Mixed (TSE:BMO)


Shares in Asia were mixed to end the week, with the spectre of another potential nuclear test by North Korea weighing on sentiment, said BMO in its morning note. The Nikkei was flat alongside a very modest softening in the JPY, the CSI 300 dropped 0.6%, but remained ever-so-slightly higher on the week, while the Hang Seng was the outlier on Friday, rising 0.8% (capping +3.6% gain this week). China’s inflation data for July did little to sway sentiment overnight. China’s consumer prices slowed to +1.3% y/y in July (versus expectations of +1.7%), while the persistent deterioration in producer prices eased in the month, with PPI down 0.8% y/y (consensus was looking for a slightly larger decline of -1.0%).

About 962,605 shares traded hands. Bank of Montreal (TSE:BMO) has risen 15.18% since February 5, 2016 and is uptrending. It has underperformed by 1.31% the S&P500.

Bank of Montreal is a financial services company. The company has a market cap of $54.75 billion. The Bank provides a range of personal and commercial banking, wealth management and investment banking services and products. It has a 12.63 P/E ratio. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.

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