Asian shares mixed, as China weighs | The Daily Star
12:00 AM, June 12, 2011 / LAST MODIFIED: 12:00 AM, June 12, 2011

Asian shares mixed, as China weighs

Asian markets were mixed on Friday after the Dow in New York rose for the first time in six sessions but a rate hike in South Korea and persistent fears over tightening in China kept dealers nervous.
Tokyo gained 0.50 percent, or 47.29 points, to 9,514.44 while Sydney rose 0.27 percent, or 12.5 points, to 4,562.1.
But Hong Kong dipped 0.84 percent, or 189.46 points, to 22,420.37 while Shanghai was flat, edging up 1.80 points, to 2,705.14.
Seoul dropped 1.19 percent, or 24.75 points, to 2,046.67.
The region was given an upbeat lead from New York, where markets were higher after the US trade deficit unexpectedly narrowed in April thanks to a recovery in exports and a dip in imports.
The Dow rose 0.63 percent, its first rise this month, while the broader S&P 500 added 0.74 percent and the Nasdaq climbed 0.35 percent.
The Nikkei posted its fourth straight rise after taking several blows in recent weeks over fears for the local economy.
Investors in Hong Kong and Shanghai were edgy as they looked to Tuesday's release of key inflation figures from Beijing to see if the government's tightening measures to cool the economy have worked.
Seoul, which had been more than one percent higher in the early morning, slumped after the central bank said it would hike interest rates 0.25 percentage points as it tries to battle inflation.
On currency markets the euro eased to $1.4482 from $1.4509 late in New York Thursday, and to 115.95 yen from 116.63. The dollar weakened to 80.05 yen from 80.32.
New York's main contract, light sweet crude for July delivery, lost 28 cents to $101.65 a barrel and Brent North Sea crude for July delivery rose 16 cents to $119.73 in the afternoon.
Gold closed at $1,542.70-$1,543.70 an ounce in Hong Kong, down from the previous day's close of $1,536.50-$1,537.50.
In other markets:
Singapore closed down 19.22 points, or 0.62 percent, to 3,078.35.
Bangkok edged up 0.35 percent or 3.52 points to 1,020.37. Mumbai fell 0.63 percent, or 116.36 points, to 18,268.54, its third straight day of losses.

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