Market Updates
Techs, Metals Support Japan
Elena
28 Mar, 2006
New York City
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Asian-Pacific benchmarks finished mostly higher, ignoring worries about interest rate increases. The Nikkei rebounded from early weakness to rise 0.2% to 16,690.24, lifted by technology, metals and retail stocks, while bank and brokerage issues dropped. Taiwan Weighted index rose 0.5%, Hong Kong Hang Seng gained 0.3%, and Shanghai Composite addded 0.2%.
[R]7:45AM Asian markets broadly advanced ahead of Fed reserve’s decision[/R]
Asian-Pacific benchmarks finished mostly higher, despite uncertainty about U.S. interest rate increases. The Nikkei erased early losses to rise 0.2% to 16,690.24, helped by technology, metals and retail stocks. Tech company Kiocera’s shares gained 1.5% and Advantest Corp. added 1.1%. However, bank and brokerage stocks declined, including Nikko Cordial, down 0.5% and Marusan Securities, falling 5%. Across the region, Taiwan’s Weighted index climbed 0.5%, Hong Kong’s Hang Seng rose 0.3% on continuous caution over interest-rate hikes, and Shanghai Composite gained 0.2%.
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