Industrial stocks power Asian markets higher
City Index January 25, 2011 8:10 PM
<p>Asian markets were up today with the Nikkei and Hang Seng Indices up 1% and 0.5% respectively. Every sector in the Nikkei 225 was trading […]</p>
Asian markets were up today with the Nikkei and Hang Seng Indices up 1% and 0.5% respectively. Every sector in the Nikkei 225 was trading stronger with Industrials being the stand-out performer up 1.5%.
Improved profit outlooks saw the Topix jump the most in two months. Teijin Shares rose 3.3% on the back of profit gains, however traders punished Resona Holdings after missing its share sale price missed analyst targets. It fell 4.5%.
Driving gains on the Hang Seng was the Technology sector which was trading up 4.4% led by Tencent Holdings, which was trading up 4% as it announced it will setup a fund to invest in the technology and internet businesses.
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