Mixed session for Asian markets; technology shares lead Japan higher
City Index April 14, 2011 4:23 PM
<p>After spending most of the morning in the red, Japanese shares turned positive and were trading higher in the afternoon, led by technology companies. Other […]</p>
After spending most of the morning in the red, Japanese shares turned positive and were trading higher in the afternoon, led by technology companies.
Other Asian markets were trading lower with Hong Kong, China and Australia all in the red.
In Japan, most stocks rose reversing earlier declines after Toshiba Corp said its profit may beat its earlier forecast. Isuzu Motors surged 6.5%, the mist in the Nikkei 225 stock average, even after it denied a report that Volkswagen AG is considering taking a stake in the company.
Toshiba, a nuclear reactor supplier, advanced 2.5% as the company’s President Norio Sasaki said it may report full-year net income higher than forecasted.
In Hong Kong, stocks fell for a third day this week ahead of Chinese economic reports scheduled for release on Friday. ICBC Ltd, the nation’s biggest lender, and China Construction Bank Corp, retreated at least 0.8%. Jiangxi Copper Co., China’s No. 1 producer of the metal, lost 0.4% and Aluminum Corp of China known as Chalco slid 0.7% after metals prices declined.