Asia stocks mixed as yen retreats; Nikkei up 0.10%
Investing.com
Published Oct 27, 2010 04:04AM ET
During late Asian trade, Hong Kong's Hang Seng Index tumbled 1.88%, South Korea's Kospi Composite fell 0.51%, while Japan’s Nikkei 225 Index gained 0.10%.
Shares in Japanese automakers advanced as the dollar retreated from a 15-year high against the yen. Shares in the world’s largest automaker Toyota surged 1.54%, Mazda saw shares rise 0.96%, while shares in Honda, which gets more than 80% of its revenue outside Japan, soared 1.93%.
However the Nikkei’s gains were limited by losses in the financial sector amid speculation over the scale of monetary easing by the Fed ahead of next week’s policy meeting. Shares in Japan’s largest lender Mitsubishi UFJ Financial Group plunged 1.84% while rivals Nomura Holdings tumbled 1.14%.
Elsewhere, in Hong Kong, shares in the commodity sector led declines amid retreating metal and crude oil prices. Oil and gas producer China Shenhua Energy saw shares plunge 2.95%, while shares in Jiangxi Copper, China’s largest producer of the metal, plummeted 4.62%.
Meanwhile, in Europe, equity markets were down after the open. The EURO STOXX 50 fell 0.66%, France’s CAC 40 shed 0.62%, the FTSE 100 declined 0.88% and Germany's DAX was down 0.47%.
Later in the day, the U.S. was to publish data on durable goods orders and new home sales.
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Written By: Investing.com
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