Asian Markets Trade Mixed

Morningstar

Asian markets traded mixed following a lower closing on Wall Street overnight.

The Nikkei was up 0.8%. The Shanghai Composite fell 0.8% while the Hang Seng gave up 0.4%. The Sensex declined 0.4% and the All Ordinaries shed half a percent.

The dollar was back above the 102 yen mark and was buying 102.16 yen, helping some stocks, even as most blue chips traded ex-dividend in Japan.

Data showed industrial profit growth slowed in China.

Stocks on the Move

Among shares that traded ex-dividend, Sony was up 0.8% but Panasonic fell 1.3%. Hitachi gave up 1.6% while Softbank fell 3.1%.

Others like Sharp Corp. and Fast Retailing rallied 2.4% each.

Nissan also traded ex-dividend but reversed losses and was up 0.7%. The company also recalled almost 1 million vehicles in the U.S.

Toyota advanced 3.4% as it launched its first share-buyback plan in five years.

In Hong Kong, CITIC Pacific retraced gains of over 20% but was still up 13.6% on its announcement of a reverse merger with its parent Citic Group.

However, Tencent Holdings fell 5.8% after announcing it had bought a stake for $500 million in Korean mobile-gaming firm CJ Games. This is Tencent’s third deal this month alone.

In earnings news, China Eastern Airlines traded flat while Bank of China was up 0.6% after both companies reported results.

In Mumbai, the 30-share benchmark Sensex traded lower, but not before hitting another fresh lifetime high in morning trade as foreign institutional investors continued to pump in money.

Top gainers were SBI, up 2.4%, followed by Airtel, up 2.3%, and HUL, up 1.4%. RIL and Hero MotoCorp were both up 1.3% each with the former gaining after it said it has won two exploration blocks in Myanmar.

Separately, India's oil ministry has summoned RIL and consumers who use its KG-D6 gas for a meeting later this week to decide on extending a sales contract beyond the end of this month.

In Sydney, News Corp. was down 2.4% after the company said Lachlan Murdoch was returning to the company.

David Jones traded flat. The retailer said Goldman Sachs now owns 9.2% stake, up from 8.2% earlier.

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