Nikkei: 9,057.26 (-50.17) Hang Seng: 20,289.03 (+76.95) Shanghai Comp: 2,601.26 (-6.91):THE NIKKEI average fell yesterday after a meeting between the heads of France and Germany failed to quell doubts about euro- zone leaders ability to contain sovereign debt woes.
Analysts said the Nikkeis hold above 9,000 could depend on whether the yen rises further, but even if it slips below that point it should not take long to recover as investors are likely to pick up shares with attractive valuations.
Bellwether exporters underperformed, with Honda Motor falling 2.5 per cent to 2,552 yen, Sony dropping 0.8 per cent to 1,687 yen and Toyota Motor shedding 1.5 per cent to 2,855 yen.
Hong Kong shares gained yesterday, outperforming Asian peers after the visiting Chinese vice-premier announced an expansion of investment options for overseas yuan holdings that could also boost capital inflows from the mainland.
But turnover at midday hit its lowest in two weeks, suggesting gains lacked conviction as the market stayed fragile after a meeting between the leaders of Germany and France on Tuesday failed to quell eurozone debt worries. – (Reuters)
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