Asian markets mixed after Chinese New Year break
City Index February 7, 2011 10:13 PM
<p>Asian markets were mixed today as Asian traders attempted to digest what has transpired over the Chinese New Year break. Japan’s Nikkei 225 Index was […]</p>
Asian markets were mixed today as Asian traders attempted to digest what has transpired over the Chinese New Year break. Japan’s Nikkei 225 Index was up 0.6% at 10,608 and in Hong Kong the Hang Seng was down 0.5% at 23,791.
In Japan all sectors were stronger today with Financials leading the charge. The gains today were driven by positive numbers out of the U.S announcing an unexpected fall in unemployment. Toyota Motor Corp, the world’s largest car maker rose 1.2%. Mizuho Financial Group, Japan’s third largest bank by market value surged 1.2 %.
In Hong Kong, almost all sectors were down with the Consumer Goods sector falling 2.3%. The falls came amid concerns that China will act further to cool property prices by raising interest rates yet again. The major developers fell today with Hang Lung Properties down 2.9% and Sands China Ltd, a unit of Sheldon Adelson’s Las Vegas Sands Corp down 2.3%.
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