Mixed trading was witnessed across the markets in Asia on Wednesday as concerns about the debt crisis in Euro region has eased off considerably. Positive clues from Wall Street, where the major indices ended in negative territory but well off the lows following late recovery, also lifted market sentiment. While the markets in Australia, China, Hong Kong, India and Indonesia managed to end in positive territory with marginal gains, the markets in Japan, South Korea and and Taiwan ended in negative territory with minor losses.In Japan, the benchmark Nikkei 225 Index dropped 17.07 points, or 0.16% to 10,394, while thebroader Topix index of all First Section issues was up 0.73 point, or 0.08%, to 933.
On the economic front, a preliminary report released by the Cabinet Office revealed that the country's leading index rose to 102.8 in March from 98.4 reported in February. The index climbed for the 13th straight month and came in line with the economists' expectations. The report further noted that the coincident index for March came in at 101.1, up from 100 in the prior month. But the index stood below the consensus forecast of 101.6. The lagging index, at the same time, rose to 85.4 from 84.2 in the prior month.
Light sweet crude oil futures for June delivery ended at $75.52 a barrel in electronic trading, down $0.87 per barrel from previous close at $76.37 a barrel in New York on Tuesday.
Automotive stocks ended in positive territory. Toyota Motor gained 2.57%, Honda Motor advanced 1.03%, Nissan Motor rose 1.09%, Hino Motors climbed 5.63% and Isuzu Motors surged up 6.34%.
Mixed trading was witnessed among large banks. Resona Holdings managed to end in positive territory with a gain of 0.09%. However, Sumitomo Mitsui Financial slipped 0.60%, Mizuho Financial plunged 3.59% and Mitsubishi UFJ Financial declined 2.39%.
Securities stocks ended in negative territory. Daiwa Securities shed 0.93%, Matsui Securitiesslipped 0.91%, Mizuho Securities fell 3.12% and Nomura Holdings lost 1.82%.
In Australia, the benchmark S&P/ASX200 Index advanced 25.00 points, or 0.55% to 4,573, while the All-Ordinaries Index ended at 4,600, representing a gain of 26.50 points, or 0.58%.
On economic front, a report released by the Department of Education, Employment and Workplace Relations revealed that the country's leading employment index improved in May after declining for four consecutive months. As per the report, the leading employment index rose to minus 1.029 in May from minus 1.129 in April.
Separately, the Australian Office of Financial Management stated that the Treasury Bondissuance in 2010-11 is expected to be around A$56 billion. After accounting for maturities of A$18.8 billion, this represents a net growth of A$37 billion in the face value amount of Treasury Bonds on issue.
Light sweet crude oil futures for June delivery ended at $75.52 a barrel in electronic trading, down $0.87 per barrel from previous close at $76.37 a barrel in New York on Tuesday.
Gold stocks led the gains following sharp rise in gold prices in the international market. Lihir Gold surged up 4.36% on huge volumes, and Newcrest Mining climbed 3.85%.
Banking stocks also advanced. ANZ Bank advanced 0.98%, National Australia Bank added 0.78% and Westpac Banking edged up 0.16%. However, Commonwealth Bank of Australia ended in negative territory with a loss of 1.00%.
Mixed trading was witnessed among mining and metal stocks. BHP Billiton edged up 0.05%,Fortescue Metals advanced 0.96%, Gindalbie Metals rose 1.75%, Iluka Resources climbed 3.26%, and Oz Minerals gained 1.90%. However, Rio Tinto bucked the trend and ended in negative territory with a loss of 0.12%, and Mineral Resource slipped 0.41%.
Oil stocks ended in positive territory. Woodside Petroleum advanced 1.85%, Santos added 1.02%,ROC Oil firm. climbed 3.85%, Oil Search added 0.36% and Origin Energy rose 1.90%.
In Hong Kong, the benchmark Hang Sang Index ended in positive territory with a modest gain of 65.98 points, or 0.33%, at 20,212, as concerns about the debt crisis in Europe eased and the market in the U.S recovered sharply in late trading session. Bargain hunting at lower levels on select stocks has led to gains in the market with most of the markets showing signs of stability. However, traders exercised caution awaiting more cues on global economy, especially from mainland China, where rising inflation numbers might warrant another round of tightening measures to cool off the growing economy.
The Indian market ended a volatile session modestly higher on Wednesday, as gains in index heavyweights like Reliance Industries, HDFC Bank, Infosys, DLF, Hero Honda Motors, Tata Steel and Tata Motors offset steep losses in the telecom sector. The market, which slipped into the red after a firm start, recovered soon despite a weaker-than-expected report on March's industrial production. The 30-share Sensex average finished at 17,196, up 54 points or 0.32%, while the 50-share Nifty ended up 21 points or 0.40% at 5,157.
Among the other major markets open for trading, China's Shanghai Composite Index advanced 8.14 points, or 0.31%, to close at 2,656, Indonesia's Jakarta Composite gained 34.73 points or 1.23% to close at 2,848, and Singapore's Strait Times Index rose 22.66 points, or 0.79%, to close at 2,880. However, Taiwan's Weighted Index bucked the trend and ended in negative territory with a loss of 5.74 points, or 0.08%, at 7,603.
On the economic front, a preliminary report released by the Cabinet Office revealed that the country's leading index rose to 102.8 in March from 98.4 reported in February. The index climbed for the 13th straight month and came in line with the economists' expectations. The report further noted that the coincident index for March came in at 101.1, up from 100 in the prior month. But the index stood below the consensus forecast of 101.6. The lagging index, at the same time, rose to 85.4 from 84.2 in the prior month.
Light sweet crude oil futures for June delivery ended at $75.52 a barrel in electronic trading, down $0.87 per barrel from previous close at $76.37 a barrel in New York on Tuesday.
Automotive stocks ended in positive territory. Toyota Motor gained 2.57%, Honda Motor advanced 1.03%, Nissan Motor rose 1.09%, Hino Motors climbed 5.63% and Isuzu Motors surged up 6.34%.
Mixed trading was witnessed among large banks. Resona Holdings managed to end in positive territory with a gain of 0.09%. However, Sumitomo Mitsui Financial slipped 0.60%, Mizuho Financial plunged 3.59% and Mitsubishi UFJ Financial declined 2.39%.
Securities stocks ended in negative territory. Daiwa Securities shed 0.93%, Matsui Securitiesslipped 0.91%, Mizuho Securities fell 3.12% and Nomura Holdings lost 1.82%.
In Australia, the benchmark S&P/ASX200 Index advanced 25.00 points, or 0.55% to 4,573, while the All-Ordinaries Index ended at 4,600, representing a gain of 26.50 points, or 0.58%.
On economic front, a report released by the Department of Education, Employment and Workplace Relations revealed that the country's leading employment index improved in May after declining for four consecutive months. As per the report, the leading employment index rose to minus 1.029 in May from minus 1.129 in April.
Separately, the Australian Office of Financial Management stated that the Treasury Bondissuance in 2010-11 is expected to be around A$56 billion. After accounting for maturities of A$18.8 billion, this represents a net growth of A$37 billion in the face value amount of Treasury Bonds on issue.
Light sweet crude oil futures for June delivery ended at $75.52 a barrel in electronic trading, down $0.87 per barrel from previous close at $76.37 a barrel in New York on Tuesday.
Gold stocks led the gains following sharp rise in gold prices in the international market. Lihir Gold surged up 4.36% on huge volumes, and Newcrest Mining climbed 3.85%.
Banking stocks also advanced. ANZ Bank advanced 0.98%, National Australia Bank added 0.78% and Westpac Banking edged up 0.16%. However, Commonwealth Bank of Australia ended in negative territory with a loss of 1.00%.
Mixed trading was witnessed among mining and metal stocks. BHP Billiton edged up 0.05%,Fortescue Metals advanced 0.96%, Gindalbie Metals rose 1.75%, Iluka Resources climbed 3.26%, and Oz Minerals gained 1.90%. However, Rio Tinto bucked the trend and ended in negative territory with a loss of 0.12%, and Mineral Resource slipped 0.41%.
Oil stocks ended in positive territory. Woodside Petroleum advanced 1.85%, Santos added 1.02%,ROC Oil firm. climbed 3.85%, Oil Search added 0.36% and Origin Energy rose 1.90%.
In Hong Kong, the benchmark Hang Sang Index ended in positive territory with a modest gain of 65.98 points, or 0.33%, at 20,212, as concerns about the debt crisis in Europe eased and the market in the U.S recovered sharply in late trading session. Bargain hunting at lower levels on select stocks has led to gains in the market with most of the markets showing signs of stability. However, traders exercised caution awaiting more cues on global economy, especially from mainland China, where rising inflation numbers might warrant another round of tightening measures to cool off the growing economy.
The Indian market ended a volatile session modestly higher on Wednesday, as gains in index heavyweights like Reliance Industries, HDFC Bank, Infosys, DLF, Hero Honda Motors, Tata Steel and Tata Motors offset steep losses in the telecom sector. The market, which slipped into the red after a firm start, recovered soon despite a weaker-than-expected report on March's industrial production. The 30-share Sensex average finished at 17,196, up 54 points or 0.32%, while the 50-share Nifty ended up 21 points or 0.40% at 5,157.
Among the other major markets open for trading, China's Shanghai Composite Index advanced 8.14 points, or 0.31%, to close at 2,656, Indonesia's Jakarta Composite gained 34.73 points or 1.23% to close at 2,848, and Singapore's Strait Times Index rose 22.66 points, or 0.79%, to close at 2,880. However, Taiwan's Weighted Index bucked the trend and ended in negative territory with a loss of 5.74 points, or 0.08%, at 7,603.
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