Asian shares mixed
Asian stocks were mixed Tuesday with some traders awaiting the passage of a stimulus package in the United States, while China announced inflation was heading lower.
Shanghai added 1.82 percent to a five-month high, with Hong Kong following suit to add 0.8 percent, a fifth straight day of rises.
China's consumer price index the main gauge of inflation, slowed to 1.0 percent in January, from 1.2 percent in December, the National Bureau of Statistics said.
TOKYO: Down 0.29 percent. The Nikkei-225 fell 23.09 points to end at 7,945.94.
Investors remained quiet ahead of a public holiday on Wednesday and as they awaited news of the fate of a huge economic stimulus package and a financial recovery plan in the United States.
HONG KONG: Up 0.8 percent. The Hang Seng Index ended up 111.58 points at 13,880.64.
"Market sentiment has improved on hopes that Beijing will introduce more stimulus measures but lingering concerns over corporate earnings and weak economic data will continue to weigh on the local market," said Phillip Asset Management strategist YK Chan, according to Dow Jones Newswires.
SHANGHAI: Up 1.82 percent. The Shanghai Composite Index, which covers A and B shares, rose 40.45 points to 2,265.16.
Sentiment was buoyed by easing January inflation figures and recent government stimulus measures, dealers said.
TAIPEI: Up 0.7 percent. The weighted index rose 31.51 points to 4,526.1.
The electronics sector led the hike, up 0.68 percent, while plastics rose 0.51 percent and cement added 0.26 percent.
SEOUL: Down 0.3 percent. The KOSPI ended down 3.82 points at 1,198.87.
MUMBAI: Up 0.66 percent. The Sensex rose 63.58 points to 9,647.47, its third straight day of gains.
It rose on hopes of a possible interest rate cut to revive domestic growth.
Comments