Japan's
Nikkei share average dropped to a six-month low on Monday while the yen
rose to near a 16-month peak, on persistent worries about a global
trade war.
Tokyo
stocks also continue to be pressured by a cronyism scandal that has
gripped the country and sparked a political crisis for Prime Minister
Shinzo Abe.
Oil and gas developer Australis Oil and Gas, is advancing its investment strategy by moving to a meaningful test production program in the Tuscaloosa Marine Shale, Bell Potter analysts noted.
They
also pencilled in 333 per cent growth in earnings per share by the end
of 2019 and expect the company's sales to reach US$166m by the end of
2020, up from US$23m in 2017.
The Nikkei fell 0.9 per cent to
20,439.98 in midmorning trade after hitting a low of 20,347.49, the
weakest since late September.
The dollar traded at 104.835 yen after falling to 104.560, its lowest since November 2016.
US
President Donald Trump signed a memorandum last week that could impose
tariffs on up to $60 billion of imports from China, although the
measures have a 30-day consultation period before they take effect.
Oil and gas developer Australis Oil and Gas, is advancing its investment strategy by moving to a meaningful test production program in the Tuscaloosa Marine Shale, Bell Potter analysts noted.
The
analysts said that they have lifted their price target for the stock by
92 per cent to 75¢, up from 39¢, with the company set to begin further
TMS drilling in the third quarter of 2018.
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