Most major Asian markets gained Tuesday, getting a boost from energy shares on back of higher crude prices and as investors scooped up discounted Chinese property stocks. China's Shanghai Composite rose 0.4% and Hong Kong's Hang Seng Index rose 1% and . In Tokyo, the Nikkei Stock Average dropped 0.3% though the broader Topix edged up 0.1% as trading resumed after Monday's closure for a holiday. Among property stocks, Gemdale rose 7.8% and Poly Real Estate Group jumped nearly 6%. Worries about euro-zone debt weighed on sentiment, though the market came off its early lows, helped by the euro's gains against the Japanese yen. The euro rose to a high of about 107.86 yen, compared with 107.10 yen in late New York trade Monday, spurred by comments from Japanese Finance Minister Yoshihiko Noda that Japan planned to buy European debt. Meanwhile, Australia's S&P/ASX 200 finished little changed. South Korea's Kospi each added 0.4% and Taiwan's Taiex climbed 1.3%.
http://steelgrillrestaurant.com// Asia Market Close: January 11, 2011
TOKYO: Tokyo stocks added 0.40 percent in the morning session Wednesday following overnight gains in European and US markets and ahead of a European Central Bank policy meeting and US jobs data. The Nikkei 225 index at the Tokyo Stock Exchange ... Tokyo stocks rise 0.40pc by noon
It is reported that Tokyo stocks retreated Wednesday, with Japan's key Nikkei stock index shedding 0.17 % at the close in Tokyo, having moved in a narrow range throughout the day, as commodities were sold to lock in gains following the Nikkei's rise to more than a seven-month closing high on Tuesday.
Brokers said that some issues came under selling pressure as profit-taking was the major theme behind investors' moves on Wednesday, following the market's spike on Tuesday, but an ongoing sense of optimism about the health and direction of the U.S. economic recovery capped losses.
As we all know that the analysts also noted that due to recent robust figures showing expansion in the U.S.'s manufacturing sector, orders for factory goods and growth of its overall economy, market players were not overly keen to send share prices lower.
Some investors took up passive stances ahead of key jobs data due out from the Uinted States later this week and U.S. and Japanese corporate earnings seasons, both of which will swing into gear forthwith.
A local equities manager said that "Expectations have been growing that we will continue to see economic recovery in the United States and market players do not seem willing to send shares sharply lower."
"Expectations for a global economic recovery led by the U.S. are mounting, but investors will likely be in a wait-and-see mood until the jobs data at the end of the week," added Hiroichi Nishi, an equities manager in Tokyo at Nikko Cordial Securities Inc. " Investors are buying dollars on the outlook for the U.S. economy, leading to lower commodity prices."
Meanwhile, orders for capital goods rebounded after falling in October, the commerce department said.
It is reported that the 225-issue Nikkei Stock Average fell 17.33 points from Tuesday to 10,380.77, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 0.11 point, or 0.01 percent, to close at 911.69.
With the Japanese yen falling to as low as 82.28 versus the U.S. dollar on Tuesday after stock trading closed in Tokyo, compared with 82.14 at Wednesday's close, export-related issues got a boost led by Japan's automakers.
Exporters like Tokyo Motor cheer a weaker yen as revenue made abroad isn't diminished when repatriated.
Toyota, the world's largest automaker who is reliant on foreign countries for some 70 percent of its total revenue, added 0.9 percent to 3,295 yen and Mazda Motor Corp., Japan's second-largest car exporter, climbed 2.5 percent to 242 yen.
As we can see that other exporters advanced on individual news, with Toshiba Corp. jumping 2.5 percent to 460 yen, following a report in the Nikkei newspaper that the company will develop a pressurized-water nuclear reactor with China's state nuclear power company.
Pioneer Corp. gained 2.4 percent to 349 yen, following the company's share price estimate being increased to 400 yen from 360 yen at Barclays Capital. Find More Tokyo Stocks Gain A Lot This Week Issues
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