Asia mostly up on Italian, China news
Wednesday, November 09, 2011 Asia mostly up on Italian, China news Asia markets traded mostly higher on Wednesday, as cooling inflation in China gave some banking and property shares a boost, and investors cheered plans by Italian Prime Minister Silvio Berlusconi to resign as a step toward resolving crippling debt problems in Europe. Japan’s Nikkei 225 Index regained 99.93 points, or 1.2%, to 8,755.44 In Hong Kong, the Hang Seng Index barreled ahead 335.96 points, or 1.7%, to 20,014.40 Wednesday’s performance in Asia followed a positive finish for U.S. stocks after reports that Italy’s Berlusconi had agreed to resign once parliament approves austerity measures in a vote expected next week. Pressure had been mounting on the leader of the euro-zone’s third-largest economy to step down, as Italy’s surging borrowing costs added to market concerns about Europe. Tokyo-listed financial firms and exporters rose, with the latter shrugging off a rising yen, as the dollar fell back below the ¥78 level overnight. Shares of Nomura Holdings Inc. rose 4.1%, Daiwa Securities advanced 4%, and Aozora Bank Ltd. rose 4.3%. Sony Corp. put on 3.1%, and Panasonic Corp. added 1.9%. Isuzu Motors Ltd. gained 4.5% after posting a 16% rise in first-half earnings, while Toyota Motor Corp. finished 1.6% higher, overcoming the company’s swing to a first-half operating loss, announced late Tuesday. Shares in Olympus Corp. extended their dive, plunging 20.4%, after the company admitted a day earlier that its management had covered up investments losses. Gains came through for some Korean exporters, with Samsung Electronics Co. ending with a 1.6% gain, though rival Hynix Semiconductor Inc. fell 4.1% as a Thursday deadline approached for bids on a 20% stake in the chip maker. In Australia, Myer Holdings Ltd. rose 6.4% after it reaffirmed full-year guidance in its quarterly sales report, while fellow retailer David Jones Ltd. gained 4.8%, and Harvey Norman Holdings Ltd. advanced 3.3%. Many energy stocks also improved, with Oil Search Ltd. up 2.7% in Sydney, and Cnooc Ltd. adding 4% in Hong Kong, as benchmark Nymex crude-oil futures rose back toward the $97-U.S.-a-barrel mark. CHINA Chinese data Wednesday showed inflation rates cooling significantly, which helped send Hong Kong-listed banking and property shares higher on the hopes of possible policy easing from Beijing. Shanghai’s CSI 300 index took on 23.94 points, or 0.9%, to 2,751.65 Bank of China Ltd. and Bank of Communications Co. each rose by 4%, China Merchants Bank Co. put on 3.5%, and Industrial & Commercial Bank of China Ltd. closed 3.6% higher. Agile Property Holdings Ltd. added 3.5%, while China Overseas Land & Investment Ltd. rose 3%, and China Resources Land Ltd. gained 3.4%. In other markets; Taiwan’s Taiex Index gave up 38.93 points, or 0.5%, to 7,561.86 Korea’s Kospi Index inched up 4.39 points, or 0.2%, to 1,907.53 Singapore’s Straits Times Index dipped 7.86 points, or 0.3%, to 2,858.66 New Zealand’s NZX 50 Index tacked on 2.33 points to 3,353.56 Australia’s S&P/ASX 200 Index gained 52.30 points, or 1.2%, to 4,346.10
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here