Arab Today, arab today asian shares mixed ahead of earnings season
Last Updated : GMT 02:44:34
Arab Today, arab today
Arab Today, arab today

Asian shares mixed ahead of earnings season

Arab Today, arab today

Arab Today, arab today Asian shares mixed ahead of earnings season

HONG KONG - AFP

Asian stocks were mixed in quiet trade on Monday as dealers locked in profits from recent gains while two of the region\'s major markets were closed. Tokyo\'s Nikkei ended 0.11 percent, or 10.25 points, lower at 9,671.96 and Shanghai fell 1.51 percent, or 45.57 points, to 2,964.95. Seoul rose 0.83 percent, or 18.18 points, to finish at 2,216.00. Hong Kong, Sydney and New Zealand were shut for public holidays, while European and US markets were closed on Friday for the Easter break. Japanese traders gave up earlier gains as they became nervous ahead of the reporting season this week, which will give the first clues to the impact of the March 11 earthquake and tsunami on the economy. Auto giants Toyota, Nissan and Honda all reported domestic production had slumped last month due to the quake, which led to power shortages and widespread factory closures. In a double blow to the automakers Standard & Poor\'s rating agency on Monday revised from \"stable\" to \"negative\" its outlook for three firms, citing the impact of the March 11 quake and tsunami. It made the same revision for three major auto parts suppliers -- Aisin Seiki, Denso, and Toyota Industries -- citing production slowdowns and stoppages, electricity supply disruptions and lower consumer confidence. Despite the Nikkei\'s loss the market was given some support from a weaker yen after a report that the central bank will halve its projection for economic growth in the fiscal year to March 2012 because of last month\'s twin disasters. The Bank of Japan is expected to downgrade its outlook for the year from 1.6 percent to around 0.8 percent in light of the deadly disasters, the Nikkei daily said. The March 11 earthquake and tsunami battered the northeast coast of Japan and triggered the world\'s worst nuclear crisis since Chernobyl in 1986. The region\'s infrastructure, businesses and factories were destroyed, while many local residents were left without jobs, hammering output. However the report said that the BoJ would also predict a rebound starting later this year, as factories begin running again, exports recover as supply chain disruptions are alleviated, and reconstruction demand starts picking up. The report came as BoJ governor Masaaki Shirakawa joined private economists in saying he saw a contraction in the first half of 2011 due to the twin disasters. The greenback rose against the Japanese unit, standing at 82.13 yen, from 81.88 yen Friday afternoon in Tokyo. The euro bought $1.4575 from $1.4571 and gained to 119.72 yen, compared with 119.30 yen. \"With such remarks, the BoJ might have tried to lay the foundation for a possible downward revision in its growth forecast,\" said Hideki Hayashi, global economist at Mizuho Securities. Toyota, the world\'s biggest automaker, said that March production in Japan plunged 62.7 percent year-on-year, while Nissan\'s output fell 52.4 percent and Honda Motor output plunged 62.9 percent because of the quake. Toyota shares ended 0.61 percent lower, Nissan dropped 1.81 percent and Honda gave up 1.27 percent. Most markets finished on a high last week after better-than-expected earnings reports from US corporate giants such as Apple and IBM, which lifted hopes for the global economy. Eyes will be on a policy meeting of the US Federal Reserve this week as well as the first live news conference by Fed chief Ben Bernanke. New York\'s main contract, light sweet crude for delivery in June, rose 36 cents to $112.65 a barrel, while Brent North Sea crude for June gained 24 cents to $124.23 in the afternoon. In other markets: -- Singapore closed down 0.22 percent, or 7.01 points, at 3,187.72. DBS Group Holdings gained 0.13 percent to Sg$14.96 and Singapore Telecommunications rose 0.64 percent to Sg$3.14. -- Taipei ended 0.21 percent, or 18.68 points, lower at 8,950.75. Taiwan Semiconductor Manufacturing lost 0.85 percent to end at Tw$70.3 while Cathay Financial Holding rose 1.59 percent to Tw$48.05. -- Manila closed 1.32 percent, or 56.60 points, up at 4,331.37. Philippine Long Distance Telephone rose 2.93 percent to 2,460 pesos, Alliance Global gained 1.02 percent to 11.84 pesos and First Gen Corp. added 3.50 percent to 14.18 pesos. -- Jakarta lost 0.33 percent, or 12.54 points, to 3,788.54. Telkom lost 2.6 percent to 7,550 rupiah, carmaker Astra fell 1.6 percent to 54,900 and coking coal producer Borneo Lumbung rose 2.4 percent to 1,720 rupiah. -- Kuala Lumpur closed flat, edging up 1.30 points to 1,524.05. Hong Leong Bank was down 1.5 percent at 10.40 ringgit, Petronas Dagangan fell 0.6 percent to 15.90 and gaming giant Genting added 0.7 percent to 11.58. -- Bangkok ended flat, edging up 0.14 points to 1,105.43. Banpu fell 4.00 baht to 760.00 and PTT lost 1.00 baht to 379.00. -- Indian shares edged down 0.09 percent with the 30-share Sensex Index closed down 17.92 points to 19,584.31. Reliance shares fell 2.97 percent or 30.85 rupees to 1,009.1, while top property firm DLF fell 2.25 percent or 5.5 rupees to 241.5. India\'s largest commercial bank State Bank of India rose 2.06 percent or 59 rupees to 2,919.35.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian shares mixed ahead of earnings season Arab Today, arab today asian shares mixed ahead of earnings season

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday