JAPAN/CHINA: Asian markets up but leery of risk

Record ID: 465530

  • Title: JAPAN/CHINA: Asian markets up but leery of risk
  • Date: 27th May 2010
  • Summary: TOKYO, JAPAN (MAY 26, 2010) (REUTERS) VARIOUS OF CIRCULATING ELECTRONIC STOCK BOARD INSIDE TOKYO STOCK EXCHANGE (TSE) (2 SHOTS) ELECTRONIC STOCK BOARD ELECTRONIC STOCK BOARD SHOWING NIKKEI 225 AVERAGE AT 9518.07 UP 58.18 IN MORNING TRADE VARIOUS OF TSE OFFICIALS WORKING MORE OF CIRCULATING ELECTRONIC STOCK BOARD SPECTATORS LOOKING AT STOCK BOARD PEOPLE WORKING INSIDE GAITAME.COM FOREIGN CURRENCY TRADING ROOM MONITOR SHOWING EURO-YEN CURRENCY EXCHANGE RATE AT 111.06 YEN TO THE EURO VARIOUS OF TRADERS LOOKING AT MONITOR THE TRADING ROOM FLAGS DISPLAYED IN FRONT OF EXCHANGE RATES SCREEN HONG KONG, CHINA (MAY 26, 2010) (REUTERS) CHINA AND HONG KONG FLAGS WIDE OF EXCHANGE TRADING FLOOR VARIOUS OF STOCKS ON BOARD (3 SHOTS) TRADERS ON THE PHONE TRADER USING CALCULATOR TRADER ASSESSING STOCKS
  • Embargoed: 11th June 2010 13:00
  • Keywords:
  • Topics: Finance
  • Reuters ID: LVAAA45RY18U5S1914CX5LR5YFWC
  • Story Text: Japan's Nikkei average rose a mere 0.3 percent on Wednesday (May 26), a day after tumbling to a six-month low, with fears about the euro zone's debt crisis and banking system keeping the euro weak and financial markets on edge.
    Rising tensions on the Korean Peninsula and concerns about a possible "hard landing" for China's economy have also helped push the Nikkei down more than 16 percent in recent sessions from an 18-month high marked in April.
    North Korea said on Tuesday it was cutting all ties with South and threatened its neighbour with military action.
    U.S. Treasury Secretary Timothy Geithner heads to Europe on Wednesday, where he is set to press for a united front against tackling the euro zone fiscal crisis, though U.S. and European officials and have given no indication if Geithner will propose any new measures to stabilise the region.
    The euro was off its lows on Wednesday, but investors were looking to sell on every uptick and sentiment remained bearish.
    The European currency lost 0.9 percent against the yen to 110.72 yen and lost 0.7 percent against the dollar to $1.2286.
    The benchmark Nikkei rose 25.57 points to 9,485.46 after earlier climbing as much as 1.7 percent to 9,622.40. The broader Topix fell 0.5 percent to 855.39.
    On Tuesday, the Nikkei fell 3.1 percent to 9,459.89, its lowest finish since Nov. 30.
    In Hong Kong, at 8:17 a.m. on Wednesday, the benchmark Hang Seng was up 0.63 percent at 19,104.68, also on euro zone uncertainties and rising tensions between North and South Korea.
  • Copyright Holder: REUTERS
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