Asian stocks mixed after Wall Street decline
Wednesday, 10 February 2010
BEIJING, Feb 9 (Agencies): Asian stocks were mixed Tuesday, following Wall Street's overnight decline on lingering worries about high European debt levels.
Tokyo, Hong Kong and Sydney were down while Shanghai, Seoul and Singapore gained.
That came after the Dow Jones industrial average closed below 10,000 for the first time in three months on concerns that debt problems in weaker European economies such as Greece might spark problems for the global financial system.
China's benchmark Shanghai Composite Index gained 0.2 per cent to 2,939.75, while Hong Kong's Hang Seng index was off 0.1 per cent, or 12.78, at 19,538.96. Seoul's Kospi was up 0.3 per cent, or 4.9, at 1,557.05.
Investors worry that debt problems in Greece, a relatively small part of the European economy, could spill over to other countries. Other countries being watched closely include Portugal and Spain.
The Dow fell 103.84, or 1 per cent, to 9,908.39. On Thursday, the Dow traded below the symbolic barrier of 10,000 for the first time since November. It hadn't closed below that mark since November 4.
Oil prices lingered below $72 a barrel in Asia with benchmark crude for March delivery down 28 cents at $71.61.
In currencies, the dollar rose to 89.39 yen from 89.17 yen. The euro gained to $1.3677 from $1.3650.
Meanwhile, Japan's Nikkei stock average edged down to a two-month closing low Tuesday, with heightened concerns about the euro zone's sovereign debt woes continuing to eat away at investor confidence.
Toyota Motor Corp climbed 2.9 per cent on short covering as the company said it would recall nearly half a million of its flagship Prius and other hybrid cars for braking problems, a third major recall since September.
The benchmark Nikkei shed 0.2 per cent or 18.92 points to 9,932.90, its lowest close since December 10. The broader Topix lost 0.2 per cent to 881.57.
Tokyo, Hong Kong and Sydney were down while Shanghai, Seoul and Singapore gained.
That came after the Dow Jones industrial average closed below 10,000 for the first time in three months on concerns that debt problems in weaker European economies such as Greece might spark problems for the global financial system.
China's benchmark Shanghai Composite Index gained 0.2 per cent to 2,939.75, while Hong Kong's Hang Seng index was off 0.1 per cent, or 12.78, at 19,538.96. Seoul's Kospi was up 0.3 per cent, or 4.9, at 1,557.05.
Investors worry that debt problems in Greece, a relatively small part of the European economy, could spill over to other countries. Other countries being watched closely include Portugal and Spain.
The Dow fell 103.84, or 1 per cent, to 9,908.39. On Thursday, the Dow traded below the symbolic barrier of 10,000 for the first time since November. It hadn't closed below that mark since November 4.
Oil prices lingered below $72 a barrel in Asia with benchmark crude for March delivery down 28 cents at $71.61.
In currencies, the dollar rose to 89.39 yen from 89.17 yen. The euro gained to $1.3677 from $1.3650.
Meanwhile, Japan's Nikkei stock average edged down to a two-month closing low Tuesday, with heightened concerns about the euro zone's sovereign debt woes continuing to eat away at investor confidence.
Toyota Motor Corp climbed 2.9 per cent on short covering as the company said it would recall nearly half a million of its flagship Prius and other hybrid cars for braking problems, a third major recall since September.
The benchmark Nikkei shed 0.2 per cent or 18.92 points to 9,932.90, its lowest close since December 10. The broader Topix lost 0.2 per cent to 881.57.