Date: Tuesday 06 Jul 2010Japanese stocks finished higher Tuesday, but had touched a seven-month low earlier following predictions that China’s property market is starting to “collapse”.
That will damage the banks and help boost the yen, said ex-IMF economist Kenneth Rogoff, making Japanese goods more expensive to overseas buyers.
Exporters fell initially, but recovered later as the yen weakened. Canon and carmakers Honda and Nissan were all ahead, helping the Nikkei add 71 points to 9,338.
There were also gains in Hong Kong and China.
Liquidity pressure has eased after subscriptions for the Agricultural Bank of China IPO closed. Investors have been holding money back for the hotly anticipated float.
The Hang Seng rose 163 to 20,005, with Aluminium Corp of China up over 4%, HSBC up 0.6% and oil giant CNOOC 0.5% higher.
That will damage the banks and help boost the yen, said ex-IMF economist Kenneth Rogoff, making Japanese goods more expensive to overseas buyers.
Exporters fell initially, but recovered later as the yen weakened. Canon and carmakers Honda and Nissan were all ahead, helping the Nikkei add 71 points to 9,338.
There were also gains in Hong Kong and China.
Liquidity pressure has eased after subscriptions for the Agricultural Bank of China IPO closed. Investors have been holding money back for the hotly anticipated float.
The Hang Seng rose 163 to 20,005, with Aluminium Corp of China up over 4%, HSBC up 0.6% and oil giant CNOOC 0.5% higher. 
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