Nikkei: 8,793.12 (+29.17) Hang Seng: 19,912.82 (–135.18) Shanghai Comp: 2,498.94 (–17.15): ASIAN STOCKS rose yesterday, after swinging between gains and losses for most of the day as job cuts in Australia, and a report indicating China may raise interest rates countered speculation the US will do more to stimulate economic growth.
“Markets are uncertain as to whether more US stimulus will give a meaningful catalyst to global growth,” said Tim Schroeders, who manages equities at Pengana Capital in Melbourne.
Samsung Electronics gained 3.2 per cent to 798,000 won in Seoul, the biggest support to the MSCI Asia Pacific Index.
Hyundai Mobis, an automotive parts supplier, increased 2.8 per cent to 334,000 won.
Stocks in Australia swung between gains and losses after a report showed the nation unexpectedly cut jobs.
Commonwealth Bank of Australia reversed a gain to decline 0.6 per cent to A$47.22.
Fanuc slumped 3.4 per cent to ¥11,610. Belle International, a Chinese maker of women’s shoes, tumbled 8.5 per cent to HK$14.88.
Cnooc, which co-owns the Penglai 19-3 field with ConocoPhillips which leaked oil, fell 1 per cent to HK$14.06. – (Bloomberg)
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