After the jump seen in the Asian equity markets yesterday as fears from the European debt crisis started diminishing after Greek Prime Minister won a vote on a new property tax while European officials vowed to continue their efforts to contain the spreading sovereign debt crisis, today gains were limited.
Yesterday's rally was based on hopes not on fact, thereby equity markets returned to their original trend which is bearish, especially after signs global economic growth is slowing, as the U.S. may show today that the durable goods orders fell in August, while confidence in South Korea fell and the French economy stalled in Q2.
As problems persist in Europe while the U.S. economy seams to be facing more challenges, sentiment remain rather weak and demand for safe haven may continue, and volatility may persist this week. Thereby the MSCI Asia Pacific Index rose today 0.2% at 15:16 in Tokyo although it fell early this morning by 0.2%.
Nikkei 225
Nikkei 225 rose today by 0.07% or 5.70 points closing at 8615.65. From 225 shares, 159 advanced, 52 declined and 14 unchanged. Sectors leading the incline were consumer goods that gained 19.58 points and the financials that gained 11.75 points.
Among the shares that advanced Softbank Corp topped the list by rising 3.80% closing at 2214 yen, followed by Konami Corp which rose by 2.99% and closing at 2477 yen. And Daikin Industries Ltd which rose by 2.84% and closing at 2243 yen.
Lagging shares today were Fast Retailing Co Ltd which fell by 3.80% closing at 13660 yen, second was Kyocera Corp which fell by 3.18% closing at 6400 yen. And TDK Corp which fell by 5.42% closing at 2651 yen.
S&P/ASX 200
The S&P/ASX 200 rose today by 0.87% or 34.90 points closing at 4039.50. From 200 companies, 134 shares ended green compared to 47 ending in red and 19 unchanged. Sectors leading the incline were the financials that gained 17.57 points and basic materials that gained 5.74 points.
Coalspur Mines Ltd inclined the most today as it rose 9.92% closing at 1.39 Australian dollars, followed by Goodman Fielder Ltd surging 7.50% closing at 0.59 Australian dollars, and Boart Longyear Ltd that surged by 6.06% closing at 2.80 Australian dollars.
Lagging shares today included Fortescue Metals Group Ltd that retreated 7.94% closing at 4.52 Australian dollars, trailed by Lynas Corp Ltd loosing 5.93% closing at 1.11 dollars. And Coca-Cola Amatil Ltd that fell 3.54% closing at 11.99 Australian dollars.
Hang Seng
Hang Seng fell today by 0.66% or 119.49 points to close at 18011.06. From 45 companies, 19 rose today, while 27 fell, and 0 unchanged. Sectors leading the incline were oil & gas that gained 49.93 points and the technology that gained 20.99 points.
Lagging shares today were Industrial & Commercial Bank of China which fell 3.81% closing at 5.08 Hong Kong dollars, and China Construction Bank Corp falling by 2.31% closing at 5.08 Hong Kong dollars. And CLP Holdings Ltd falling by 3.95% closing at 70.55 Hong Kong dollars.
The shares that advanced were CNOOC Ltd topped the list by rising 3.91% closing at 13.30 Hong Kong dollars, followed Tencet Holdings Ltd that rose by 3.37% and closing at 165.40 Hong Kong dollars. And HSBC Holdings PLC that rose by 0.57% and closing at 62.05 Hong Kong dollars.