Asia stocks mixed amid low trade volume; Nikkei closed for holiday
Investing.com
Published Oct 11, 2010 03:55AM ET
Hong Kong's Hang Seng Index climbed 1.05%, South Korea's Kospi Composite shed 0.38%, while Japan’s Nikkei 225 Index was closed in observance of Health Sports Day.
In Hong Kong, commodity-linked shares outperformed amid rising metal and crude oil prices. Shares in PetroChina, the world's second-most valuable oil and gas producer, climbed 3.50%, China Shenhua Energy jumped 2.69%, while Yanzhou Coal Mining Co. saw its shares soar 4.84%.
Meanwhile, shares in Cnooc Limited, China’s largest offshore oil producer, surged 4.54% after the company agreed to pay USD 1.08 billion for a one-third stake in Texas-based Chesapeake Energy Corp.
In the real estate sector, Hong Kong-based property developers gained ahead of a land auction tomorrow in the city’s Kowloon Tong district. Shares in Sino Land Company jumped 2.46%, rivals Henderson Land Development climbed 1.07%, while Hong Kong's biggest property developer Sun Hung Kai Properties saw its shares rise 0.51%
Elsewhere, Australia’s S&P/ASX 200 Index advanced 0.34%, as miners led gains. Shares in the world’s largest miners BHP Billiton rose 1.10%, Rio Tinto advanced 0.68%, while stocks in Newcrest Mining were up 0.60%.
In Europe, equity markets were mixed. The EURO STOXX 50 was down 0.03%, France’s CAC 40 gained 0.10%, the FTSE 100 rose 0.02% and Germany’s DAX increased 0.03%.
Later in the day, European Central Bank President Jean Claude Trichet was to give a speech; his comments are closely watched for any clues to the future direction of monetary policy.
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Written By: Investing.com
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