Nikkei: 8,314.74 (-33.53) Hang Seng: 18,251.59 (+25.74) Shanghai Comp: 2,412.63 (-2.5)ASIAN STOCKS rose yesterday as Moody's and Standard and Poor's affirmed the US's credit ratings even after a deficit-cutting committee failed to reach an agreement.
Some Japanese exporters rebounded from multi-year lows as the yen weakened against the dollar and euro, easing concern about their earnings outlook.
Sony rose 3.1 per cent to ¥1,305 after closing the previous day at its lowest level since 1987. Toyota edged up 0.1 per cent to ¥2,387 after touching its lowest intraday level since 1996. Osaka Securities Exchange rose 4.6 per cent after Tokyo Stock Exchange Group agreed to acquire the bourse.
HSBC Holdings, Europe’s biggest bank, fell 0.8 per cent in Hong Kong, leading declines among companies which receive revenue from the region. Clothier Esprit Holdings dropped 3.2 per cent to HK$8.38, while Wal-Mart supplier Li and Fung climbed 3.4 per cent.
Australia’s SP/ASX 200 slid 0.7 per cent. OneSteel slumped 11 per cent to 83 Australian cents after its chief executive, Geoff Plummer, said yesterday he would not rule out shutting the steelmaker’s main Whyalla plant in south Australia. – (Bloomberg)
