Investing.com – Asian stock markets were mixed on Wednesday, as ongoing uncertainty over a resolution to Greece’s debt crisis weighed on sentiment, while shares in Japanese exporters edged higher in Tokyo.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.5%, South Korea's Kospi Composite gained 0.47%, while Japan’s Nikkei 225 Index added 0.28%.
Euro zone finance ministers failed to reach an agreement on a second Greek bailout plan on Tuesday, adding to investors’ nervousness over the country’s debt crisis.
Meanwhile, shares in Japanese exporters performed strongly after official data showed on Tuesday that U.S. retail sales declined less-than-expected last month, indicating U.S. consumers are weathering high gasoline prices.
Consumer electronics giant Sony saw shares climb 1.05%, semiconductor manufacturer Elpida Memory advanced 1.5%, while digital camera maker Canon added 0.8%.
Truck maker Hino Motors saw shares jump 4.4% after forecasting full-year net profit of JPY12 billion, following a loss of JPY10 billion a year earlier, citing a recovery in demand for trucks and busses in Japan.
Shares in troubled nuclear power plant operator Tokyo Electric Power Company soared 32.1%, extending sharp gains from the previous session after Japan’s Cabinet Office said the country will guarantee loans by banks to ensure TEPCO can compensate victims of the Fukushima nuclear accident.
In Hong Kong, shares in the financial sector were broadly lower after the People’s Bank of China raised reserve requirements for lenders by 0.5%, in an effort to tame inflation, which rose to a 34-month high in May.
Shares in China Construction Bank declined 1.1%, China’s largest lender Industrial and Commercial Bank of China saw shares slump 1.5%, while Hong Kong-listed shares of Bank of China fell 1.3%.
Fashion apparel retailer Esprit Holdings, which gets most of its revenue from Europe saw shares tumble 3.8%.
The outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a drop of 0.6%, France’s CAC 40 futures dipped 0.65%, the FTSE 100 futures was down 0.55%, while Germany's DAX futures indicated a decline of 0.45%.
Later in the day, the U.S. was to publish official data on consumer price inflation, as well as reports on foreign investment, industrial production and manufacturing activity.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.5%, South Korea's Kospi Composite gained 0.47%, while Japan’s Nikkei 225 Index added 0.28%.
Euro zone finance ministers failed to reach an agreement on a second Greek bailout plan on Tuesday, adding to investors’ nervousness over the country’s debt crisis.
Meanwhile, shares in Japanese exporters performed strongly after official data showed on Tuesday that U.S. retail sales declined less-than-expected last month, indicating U.S. consumers are weathering high gasoline prices.
Consumer electronics giant Sony saw shares climb 1.05%, semiconductor manufacturer Elpida Memory advanced 1.5%, while digital camera maker Canon added 0.8%.
Truck maker Hino Motors saw shares jump 4.4% after forecasting full-year net profit of JPY12 billion, following a loss of JPY10 billion a year earlier, citing a recovery in demand for trucks and busses in Japan.
Shares in troubled nuclear power plant operator Tokyo Electric Power Company soared 32.1%, extending sharp gains from the previous session after Japan’s Cabinet Office said the country will guarantee loans by banks to ensure TEPCO can compensate victims of the Fukushima nuclear accident.
In Hong Kong, shares in the financial sector were broadly lower after the People’s Bank of China raised reserve requirements for lenders by 0.5%, in an effort to tame inflation, which rose to a 34-month high in May.
Shares in China Construction Bank declined 1.1%, China’s largest lender Industrial and Commercial Bank of China saw shares slump 1.5%, while Hong Kong-listed shares of Bank of China fell 1.3%.
Fashion apparel retailer Esprit Holdings, which gets most of its revenue from Europe saw shares tumble 3.8%.
The outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a drop of 0.6%, France’s CAC 40 futures dipped 0.65%, the FTSE 100 futures was down 0.55%, while Germany's DAX futures indicated a decline of 0.45%.
Later in the day, the U.S. was to publish official data on consumer price inflation, as well as reports on foreign investment, industrial production and manufacturing activity.