Nikkei: 9,653.92 (+12.74) Hang Seng: 24,014 (–121.03) Shanghai Comp: 3,043.06 (–7.34)SEOUL BUCKED the flat to lower trend across much of the Asia-Pacific region yesterday, taking the Kospi Composite index of South Korean stocks to a fresh closing high.
Car makers and their suppliers were buoyed by robust earnings expectations. Hyundai climbed 4.5 per cent to Won222,000 after its Indian unit said it would introduce two new models a year, while affiliate Kia added 2.5 per cent to Won75,300.
The strengthening yen weighed on Japanese exporters. Isuzu Motors bucked the weaker trend in the auto sector, rising 6.2 per cent to ¥310.
In Sydney, resource stocks continued their sell off following weak first-quarter production results from Rio Tinto. Its shares dropped 0.7 per cent to A$85.12.
Elsewhere in the resources sector investors continued to take short-term profits.
OZ Minerals lost 4.1 per cent to A$1.53, while Energy Resources of Australia shed 4.7 per cent to A$6.56.
Leighton Holdings, Australia’s largest builder, dropped 11.9 per cent to A$24.93 after predicting a loss for 2011. – (Copyright The Financial Times Limited 2011)
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