Nikkei: 8,678.89 (–3.26) Hang Seng: 18,025.72 (+42.62) Shanghai Comp: 2,317.28 (–14.09)ASIAN STOCKS swung between gains and losses yesterday, on speculation European policy makers will struggle to reach a resolution on how to fight the region's debt crisis.
“It looks like European leaders are making progress, but there’s still a long way to go,” said Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management. “The market remains very vulnerable.”
Fanuc gained 2.4 per cent to ¥12,170. Mitsubishi Electric, which makes 25 per cent of revenue from factory automation equipment, rose 2.7 per cent to ¥712.
Samsung Electronics, the world’s second-biggest handset maker, rose 1.1 per cent to 917,000 won.
Hynix Semiconductor climbed 10 per cent to 23,200 won in Seoul after research company IHS iSuppli said Apple used the company’s NAND-flash chips in the iPhone for the first time.
LG Display, a maker of liquid-crystal displays, jumped 7.8 per cent to 24,250 won
Mitsubishi slid 2.5 per cent to ¥1,478, while Itochu lost 1.8 per cent to ¥731. – (Bloomberg)
