Markets in Asia were mixed yesterday Friday Jan 30 as dealers looked to a fall on Wall Street and a woeful set of economic data out of Japan that highlighted the depth of the world economic crisis.
Markets, which had been buoyed during the week by US President Barack Obama’s economic stimulus plan, were dragged by Wall Street, which dived 2.70% overnight.
Shanghai and Taipei were closed for public holidays.
TOKYO: Down 3.12%, hit by a raft of grim economic and corporate news as well as a negative lead from Wall Street. Profit warnings from Nintendo and Toshiba also triggered selling. The Tokyo Stock Exchange’s benchmark Nikkei index lost 257.19 points to end at 7,994.05.
The broader Topix index of all first-section shares slipped 24.44 points, or 2.99%, to 794.03. There was more grim economic news as industrial production plunged a record 9.6% in December from the previous month, while unemployment jumped to a near three-year high of 4.4%.
SYDNEY: Up 0.4%. The S&P/ASX 200 was 14.5 points higher at 3,540.7, while the broader All Ordinaries gained 16.8 points to 3,478.1.
HONG KONG: Share prices closed 0.9% higher yesterday, as a surge in Chinese banks and China Mobile reversed early losses, dealers said. The benchmark Hang Seng Index closed up 123.78 points at 13,278.21 after falling to an intraday low of 12,899.57.
SINGAPORE: Shares closed 1.15% lower yesterday in a thin and cautious market, dealers said. The Straits Times Index fell 20.25 points to 1,746.47.
SEOUL: Down 0.4%. The KospiI ended down 4.45 points at 1,162.11. Volume was light but buying by local pension funds along with programme buying helped the bourse outperform most Asian peers, Lee Jin-Woo, an analyst at Mirae Asset Securities, told Dow Jones Newswires.
KUALA LUMPUR: Share prices on Bursa Malaysia ended mixed in lacklustre trade yesterday with last-minute buying of selected heavyweights helping to push the Kuala Lumpur Composite Index (KLCI) into positive territory, a dealer said. The KLCI, which was trading in negative territory for almost the whole day, ended 1.29 points higher at 884.45, after touching an intraday low of 871.53.. It had opened 0.34 point lower at 882.82.
BANGKOK: Up 0.62%. The Stock Exchange of Thailand (SET) composite index rose 2.69 points to close at 437.69 points while the blue-chip SET-50 index gained 2.10 points to 303.59.
JAKARTA: Up 0.6%, helped by buying in bank shares and most commodity-related stocks. The Jakarta Composite Index gained 8.01 points to 1,332.66 in thin trade.
MANILA: Down 1.9%. The composite index fell 35.60 points to 1,825.09 points, while the all-share index lost 1.5% to 1,194.84 points.
MUMBAI: Shares rose 2.04% on firm European market trends and select overseas fund buying. The benchmark 30-share Sensex index rose 187.96 points to 9,424.24.
EUROPE: European stocks unofficially closed 0.3% lower yesterday, ending a volatile session in the red as commodities took a tumble, eclipsing M&A-driven gains in the pharmaceutical sector.
The pan-European FTSEurofirst 300 index unofficially ended down 0.3% at 794.12 points, having swung between positive and negative throughout the session. Across Europe, the FTSE 100 index was down more than 1%, Germany’s DAX was down about 2% and France’s CAC 40 fell more than 1%.
US: Wall Street ended its worst January ever by stumbling again over the banking system and the economy.
The major indexes all fell sharply for the second straight day, leaving the Dow Jones industrial average and Standard & Poor’s 500 index with record%age drops for January — 8.84% and 8.57%, respectively. Some market watchers believe that’s a bad omen for the rest of the year, as the market usually ends a year down after having fallen in January.
he Dow fell 148.15, or 1.82%, to 8,000.86 after falling 226 on Thursday on negative employment and housing news.
The S&P 500 fell 19.26, or 2.28%, Friday to 825.88, and the Nasdaq composite index fell 31.42, or 2.08%, to 1,476.42.
The Russell 2000 index of smaller companies fell 9.71, or 2.14%, to 443.53.
Declining issues outnumbered advancers by 3 to 1 on the New York Stock Exchange, where consolidated volume came to 5.22 billion shares, up from 4.87 billion on Thursday.
Light, sweet crude for March delivery rose 24 cents to settle at $41.68 a barrel on the New York Mercantile Exchange.