Japan shares up on good earnings while technology stocks pull Hong Kong market down
City Index February 8, 2011 4:28 PM
<p>Asian markets were mixed again today with the Japanese Nikkei up 0.5% at 10,639 and Hong Kong’s Hang Seng down 0.5% at 23,444. The technology […]</p>
Asian markets were mixed again today with the Japanese Nikkei up 0.5% at 10,639 and Hong Kong’s Hang Seng down 0.5% at 23,444. The technology sector was the biggest loser on the Hang Seng, down 3.5%.
Yesterday’s falls on the Hang Seng came amid concerns China may act further to cool inflation – a theme that has carried on into today’s session. Xingye Copper International Group slumped 19% after it announced profits were likely to fall.
Conversely, China Unicom rose 4.6% after Credit Suisse Group AG boosted its estimate on China’s second largest mobile-phone company.
Across to Japan, the market was stronger after companies reported improving earnings and as U.S takeovers boosted investors’ optimism. Toyota Motor Corp and Nomura Holdings gained today both up approximately 0.5%.
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