Date: Friday 02 Jul 2010Despite their best attempts markets in the Far East struggled against an increasingly negative headwind as existing nerves about global growth are compounded by yesterday’s US data.
Japan traded in and out of positive territory before ending a touch higher, while Hong Kong’s Hang Seng was made a three-week closing low.
Nerves ahead of this afternoon’s US monthly payrolls data also kept many on the sidelines.
The leading Nikkei index ended up 12 points at 9,203, but still finished the week down over 5% for its worst week in over a month.
Selected exporters had something to cheer. Playstation maker Sony and camera giant Canon both improved. Traders attributed gains to short-covering following recent losses.
Toyota also eked out a positive result on bargain hunting despite news it may have to recall 270,000 cars to fix a problem that could cause vehicles to stall.
Hong Kong tumbled 223 points to 19,905, the first time it’s closed below 20,000 since 11 June.
Liquidity suffered as investors put money aside for the upcoming Agricultural Bank of China IPO, while a decision to cut alumina prices by 7% hit Chalco.
Japan traded in and out of positive territory before ending a touch higher, while Hong Kong’s Hang Seng was made a three-week closing low.
Nerves ahead of this afternoon’s US monthly payrolls data also kept many on the sidelines.
The leading Nikkei index ended up 12 points at 9,203, but still finished the week down over 5% for its worst week in over a month.
Selected exporters had something to cheer. Playstation maker Sony and camera giant Canon both improved. Traders attributed gains to short-covering following recent losses.
Toyota also eked out a positive result on bargain hunting despite news it may have to recall 270,000 cars to fix a problem that could cause vehicles to stall.
Hong Kong tumbled 223 points to 19,905, the first time it’s closed below 20,000 since 11 June.Liquidity suffered as investors put money aside for the upcoming Agricultural Bank of China IPO, while a decision to cut alumina prices by 7% hit Chalco.
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