ASIA REPORT: Nikkei: 10,133.23 (+33.03) Hang Seng: 20,955.25 (-57.92) Values at yesterday's close.
INDIAN STOCKS outperformed the rest of the region yesterday as the BSE Sensex index rounded off a strong quarter with its best one-day performance for three weeks.
The benchmark rose 1.6 per cent to 17,126.84, its highest close since May 2008, amid mounting optimism about forthcoming corporate earnings. Oil India, the state-owned energy explorer, advanced 9.1 per cent to Rs1,145.65 on its trading debut.
In Tokyo, the Nikkei 225 Average inched up 0.3 per cent to 10,133.23, while the broader Topix index rose 0.7 per cent, as investors stayed cautious ahead of Bank of Japan Tankan business confidence data. Over the quarter, the Nikkei rose 1.8 per cent, compared with nearly 23 per cent between April and June.
A brokerage downgrade weighed on property developers yesterday. Mitsubishi Estate, Japan’s largest real estate developer, dropped 1.4 per cent to Y1,412 while Tokyu Land fell 5.3 per cent to Y359.
In Hong Kong, the Hang Seng Index dropped 0.3 per cent to 20,955.25 as investors took profits. – Copyright The Financial Times Limited 2009
