Date: Friday 18 Jun 2010
Japanese stocks ran out of steam Friday, falling slightly, although talk that foreign investors are sniffing around the Nikkei limited the decline.The leading index fell by just 4 points to 9,995, but had closed at 9,705 last Friday, making a gain of over 3% this week. It had hit a one-month high on Wednesday above 10,100.
Today’s stronger yen appears to have done for exporters. Carmaker Nissan, Toyota and Honda all slipped a gear or two.
But a big performance in the US by i-Pad firm Apple gave a small boost to Advantest and Tokyo Electron. The American giant has sold over 600,000 of its new iPhones.
There was no problem in Hong Kong as banks and oil companies sent the Hang Seng up around 100 points to its highest in five weeks.
HSBC is up about 1%, although oil giants CNOOC and PetroChina have done even better.Traders are much more optimistic following the successful Spanish bond auction yesterday which calmed fears about the eurozone’s debt crisis.
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