Hong Kong shares fluctuate; Japan stocks stronger
City Index January 3, 2011 10:29 PM
<p>Asian markets were again stronger today with the Nikkei up 1% and the Hang Seng up around 0.1%. Stocks in Hong Kong fluctuated as developers […]</p>
Asian markets were again stronger today with the Nikkei up 1% and the Hang Seng up around 0.1%.
Stocks in Hong Kong fluctuated as developers gained after an economic report signalled China’s moves to tame inflation may be working, while HSBC Holdings and Aluminum Corp of China fell after profits missed analysts’ estimates. HSBC sank 4.8% and Aluminum Corp of China slid 2.9%.
In Japan, all sectors were stronger today with Financials leading the gains up 1.24%. Shinsei Bank jumped 6% after Credit Suisse raised its rating on the share sale plan. Shinsei Bank is partly owned by wealthy business man and Private Equity Investor J. Christopher Flowers. Elsewhere, Dentsu Inc was up 5% and Sumitomo Bank jumped 4.2%.
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