Asia stocks mixed as banks gain; Hang Seng up 0.86%
Investing.com
Published Mar 29, 2010 02:48AM ET
The Shanghai Composite Index gained 1.97%, Australia's S&P/ASX 200 Index rose 0.01% and Hong Kong's Hang Seng Index was up 0.86%.
But South Korea's Kospi Composite Index dropped 0.34% and Japan’s Nikkei 225 Index fell 0.09%, despite an upbeat report on Japanese retail sales.
Earlier in the day, official data showed that Japanese retail sales climbed the most in 13 years in the year to February, as government incentives prompted shoppers to open their wallets.
Also Monday, an industry group said new home sales in Australia slumped 5.1% in February following a massive surge the previous month.
Chinese banks were among the top performers, with Bank of China Ltd. rising 3.07% and China Construction Bank Corp. gaining 2.87%. Jiangxi Copper Co., the largest copper producer in mainland China, climbed 1.69% on a rise in the metal's price.
The outlook for European markets was somewhat rosier: France’s CAC 40 futures indicated a rise of 0.35%; Germany's DAX futures pointed to an increase of 0.52%; EURO STOXX 50 futures indicated a gain of 0.58%; and Britain's FTSE 100 futures pointed to a rise of 0.27%.
Later in the day, the U.S. was set to release data on consumer inflation, as well as reports on personal spending and personal income.
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Written By: Investing.com
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