Skip to main content
CNN EditionBusiness
The Web    CNN.com     
Powered by
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SERVICES
 
 
 
SEARCH
Web CNN.com
powered by Yahoo!

Nikkei at odds with Asia's fall

South Korea's Chohung Bank jumped more than 6 percent Friday.
South Korea's Chohung Bank jumped more than 6 percent Friday.

Story Tools

(CNN) -- Asian stocks closed mainly lower Friday, reacting to a selloff on Wall Street after a strong week. But Japan eked out a small gain to take it to another six-month high.

Taiwan and Singapore showed the biggest falls.

In Japan, the Nikkei 225 average climbed out of the red to close just 0.11 percent higher at 9120.39. That was its fourth straight winning session and the highest close since December 3.

The broader Topix index was up 0.23 percent to 898.73, mainly on the strength of a 1.8 percent gain for the market's biggest stock, NTT DoCoMo.

Japanese exporters such as carmakers and consumer electronics companies were mainly weaker, reflecting some pessimism about the U.S. economic outlook.

Elsewhere in the region, Taiwan's Taiex dropped almost 1 percent. Hong Kong's Hang Seng was down about 0.5 percent and Singapore's Straits Times index is about 0.6 percent lower.

South Korea's Kospi was off 0.62 percent from Thursday's six-month high, while in Australia the benchmark S&P/ASX200 ended 0.47 percent lower.

New Zealand moved against the trend, with the Top 50 index closing 0.36 percent higher.

The moves in Asia followed a decline of 1.23 percent for the Dow Jones industrial average on Thursday, and 1.7 percent for the Nasdaq. (Full story)

In Tokyo, the dollar is trading flat at 118.24 yen late in the day.

Among key Japanese exporters, consumer electronics leader Sony Corp closed down 0.56 percent to 3520 yen, Matsushita Electric Industrial was 0.62 percent lower to 1120 yen and Kyocera was off 1.4 percent to 7140 yen.

Honda, Japan's second-largest automaker, finished down 2.1 percent to 4670 yen, Nissan was down 1.3 percent and Toyota was about 0.3 percent lower.

Nintendo fell 2.4 percent to 8470 yen after saying Thursday it had won a piracy case against a Hong Kong company. (Full story)

Big banks closed higher, with a gain of 3.1 percent to 93,200 yen for Mizuho and 2 percent to 158,000 yen for UFJ. MTFG put on 3 percent to 525,000 yen.

Among industrials, Nippon Steel rose 2.7 percent and Kobe Steel jumped more than 5 percent.

In Hong Kong, the Hang Seng index closed 0.5 percent lower at 9930.31, with banking leader HSBC off about half a percent to HK$96.00.

PCCW finished about 1 percent to HK$5.10, while China Mobile was 0.77 percent lower at HK$19.45.

In Seoul, the Kospi finished down 0.62 percent to 686.22, led by a 2.6 percent fall for SK Telecom to 204,500 won.

Market heavyweight Samsung Electronics was off 1.6 percent to 364,000 won and big exporter Hyundai Motor fell 1.8 percent to 32,900 won.

News of a likely $4 billion liquidity injection for Chohung Bank and Thursday's approval of the sale price to Shinhan Financial Group pushed their shares sharply higher on Friday. Chohung closed 6.3 percent higher at 4750 won and Shinhan was up 3 percent to 13,900 won. (Full story)

In Australia, the S&P/ASX200 ended 0.47 percent lower at 3089.5. Media group News Corp, the biggest stock in the market, was down 2.6 percent to A$11.57 after Wall Street's decline.

Resources leader BHP Billiton was off 1.22 percent to A$8.90. But there were slight gains for Telstra and Qantas.

Singapore's Straits Times index is off 0.62 percent to 1511.74, led down by a 2.7 percent fall in Singapore Airlines. The carrier announced staff cuts on Thursday. (Full story)

DBS, Singapore's biggest bank, is almost 1 percent lower at S$11.10.

In Taiwan, the Taiex fell 0.92 percent to 5002.58, with a modest fall for chip foundry TSMC to T$58.50. Its smaller rival UMC was down 2.8 percent to T$24.00.

New Zealand's Top 50 put on 0.36 percent to 2188.30, with Telecom NZ up slightly to NZ$5.24 after announcing a network deal with France's Alcatel. (Full story)

The market's No. 2 stock, building products group Carter Holt Harvey, ended flat at NZ$1.70.


Story Tools
Subscribe to Time for $1.99 cover
Top Stories
European stocks cheered by STM
Top Stories
CNN/Money: Security alert issued for 40 million credit cards

International Edition
CNN TV CNN International Headline News Transcripts Advertise With Us About Us
SEARCH
   The Web    CNN.com     
Powered by
© 2005 Cable News Network LP, LLLP.
A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines. Contact us.
external link
All external sites will open in a new browser.
CNN.com does not endorse external sites.
 Premium content icon Denotes premium content.
Add RSS headlines.