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Asian Markets Mixed Ahead Of EU Meeting

By (David M. Frank) |  Stock Markets  |  Nov 26, 2012 09:03AM GMT  |   Add a Comment
Asian Markets Mixed Ahead Of EU Meeting
By (David M. Frank)   |  Nov 26, 2012 09:03AM GMT
Asian markets are mixed as investors are cautious ahead of the key EU meeting regarding the next aid package to Greece. The Nikkei outperformed other markets to finish at a 7-month high.

Traders and investors are hoping the EU ministers can reach an agreement regarding the dispersal of a crucial aid package to the bankrupt Greek Government. Both the ECB and IMF have failed to reach an agreement on the Greek debt and how to bring it down over the last 2 weeks.

The Nikkei rose again today close to a seven month high. The index rose 66.6 points to 9407.41. Exporters like Toyota Motor, Honda Motor and Canon we all up from 1.4 percent to 2.1 percent boosted by expectations for a weaker yen. Both Sony and Panasonic were both down today falling 1.2 percent and flat respectively. Fitch cut Panasonic’s debt to junk last week,

Chinese markets were down today. The Hang Seng lost 54.40 points to 21872.58 and the Shanghai lost 6.68 points to close at 2020.70.

In South Korea, the Kospi lost 2.70 points as Samsung came off last week’s record high. The company lost 2.3 percent on profit taking. Hyundai Motors rose 0.7 percent after losing 14 percent since end of September.

The Australian S&P/ASX crawled higher by 11.20 points to close at 4424.20.

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