Asia stocks close higher; Nikkei gains 0.16%
Investing.com
Published Oct 13, 2010 03:51AM ET
During last Asian trade, Hong Kong's Hang Seng Index rose 1.05%, South Korea's Kospi Composite was up 0.43% and Japan’s Nikkei 225 Index gained 0.16%.
Earlier in the day, official data showed that Japanese core machinery orders rose unexpectedly in August, increasing by 10.1%. Analysts expected core machinery orders to fall by 3.7% in August.
Following the news, shares in Fanuc Ltd., Japan’s leading manufacturer of industrial robots soared 2.32% while Komatsu Ltd., a maker of heavy machinery, gained 0.85%.
Meanwhile, shares in Japan’s leading exporters were mixed, as Sony rose 0.12%, digital camera maker Canon gained 0.26%, while Nintendo saw its stocks fall 0.58% and Toyota Motor declined 0.18%.
In Hong Kong, shares in property developers retreated amid reports that the city’s government unveiled policies to rein in home prices. Shares in Hong Kong's biggest property developer Sun Hung Kai Properties saw its shares fall 0.88%, rivals Sino Land Company declined 0.85% and Hang Lung Properties tumbled 1.04%.
But commodity-linked shares were higher amid rising crude oil and metal prices. Shares in PetroChina, the world's second-most valuable oil and gas producer, climbed 0.20%, China Shenhua Energy jumped 1.51%, while Yanzhou Coal Mining Co. saw its shares soar 1.63%.
In Europe, equity markets opened higher. The EURO STOXX 50 was up 1.02%, France’s CAC 40 rose 1.03%, the FTSE 100 gained 0.90% and Germany's DAX climbed 0.93%.
Later in the day, the euro zone was to release data on industrial production.
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Written By: Investing.com
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