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%.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.