Tokyo stocks ended fractionally lower on Monday due to concerns over interest rates and the weak performance of Japanese yen, according to China Global Television Network (CGTN) analyst Timothy Pope.
Japanese shares on Monday rallied from their session lows, with the Nikkei 225 finishing only slightly lower after an early sell-off.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 93.63 points, or 0.14 percent, from Friday at 66,311.93.
Although staging an impressive comeback after being down more than 2 percent earlier in the session, the Nikkei 225 was still loomed under the impacts of rate concerns and weak yen.
"The worry still is about interest rates after Fed Chair Kevin Warsh's speech last week, and ahead of one of the Bank of Japan's more hawkish voices making his own speech later in the week. There's also the problem of the persistently weak yen, which has slipped back to around 160 per dollar, only a couple of weeks after that rare, very rare joint intervention by the Japanese and U.S. governments," said Pope.
Rate concerns, weak yen overshadow Nikkei rebound: analyst
The Shanghai Cooperation Organization (SCO) is a "unique organization" focused on connectivity, pragmatism and independence, according to the former prime minister of Kyrgyzstan Djoomart Otorbaev.
This year's SCO summit, which marks the 25th anniversary of the organization's founding, is taking place in the Kyrgyz capital Bishkek from Monday to Tuesday.
Themed "25 Years of the SCO: Together Towards Sustainable Peace, Development, and Prosperity", the summit has brought together leaders from more than 20 countries.
Speaking in an interview with China Global Television Network (CGTN) on Sunday, Otorbaev said that SCO member states can look beyond differences in political systems and economic models and pursue win-win outcomes through dialogue, connectivity and pragmatism.
"It's a unique organization. Connectivity in SCO means that we are connected not only by railway, but in making dialogue with each other. Trade, investments, transport, energy, connectivity, moving very quickly. Without doubt, it’s China to Central Asian countries, we're doing very well. So, connectivity,” he said.
He also stressed that greater independence and self-reliance can help drive development and prosperity across the region.
"Number two is pragmatism. If you look to those 10 full members of the SCO, they are exploring different political systems, different economic models. But instead of arguing who is better, we are telling, let's get win-win, let's be pragmatic. If we will be pragmatic together, we will be delivering to our nations, to our people, better results. Then we have to look to the future - independence. We are not against anybody, but we say we will be stronger if we are independent from other models of economic and political development. In that respect, this is the key that we rely on our own strength. Only our own nations, our own people, will make us stronger and more prosperous." he said.
Connectivity, pragmatism, independence define SCO: Former Kyrgyz PM
