We have updated our privacy policy and terms & conditions. Find out more here.

Asian stocks mostly higher after down day in U.S.; Nikkei up 0.94%

Stock MarketsJun 25, 2013 02:52AM GMT Add a Comment
Share with a Friend
Thanks for sharing
Emails have been sent to:
To send more emails click here
Investing.com - Most Asian stocks traded higher Tuesday following another dismal day for their U.S. counterparts Monday, but concerns about China’s economy loomed large.

In Asian trading Tuesday, Japan’s Nikkei 225 rose 0.94% while the Topix was higher by nearly 1% after the Bank Of Japan said that Japan’s corporate services price index rose by a seasonally-adjusted 0.3% last month following a -0.3% reading in April. Analysts had expected Japan’s CSPI to rise to 0.1% last month. The April reading was revised up from -0.4%

USD/JPY traded higher aided by comments made by BoJ Deputy Governor Kikuo Iwata who said the central bank can still deploy easing measures if it has to. Those comments were made Monday.

Hong Kong’s Hang Seng rose 0.73% while the Shanghai Composite dropped 0.59%. On Monday, Moody’s Investors Service revised its outlook on Hong Kong’s banking sector to negative from stable.

"The change in the banking system outlook reflects the agency's concerns regarding persistent negative real interest rates and potential property bubbles in Hong Kong, as well as Hong Kong banks' growing exposures to Mainland China. These factors could result in adverse operating conditions for Hong Kong banks over the outlook horizon," said Moody’s in a statement.

Australia's S&P/ASX 200 Index added 0.4%, reversing an earlier 0.3% loss, but mining and materials names, including BHP Billiton, were weak.

New Zealand’s NZSE 50 shed 0.53%. South Korea’s Kospi added 0.38% after the Bank Of Kore said that South Korean consumer confidence rose to 105 in May from 104 in April. Analysts had expected South Korean consumer confidence to rise to 105 in May. South Korea’s economy is Asia’s fourth-largest.

Singapore’s Straits Times advanced 0.67% while S&P 500 futures rose 0.30% a day after the benchmark U.S. index slid 1.21%.

Asian stocks mostly higher after down day in U.S.; Nikkei up 0.94%

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.