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Business News/ Market / Stock-market-news/  Asian shares mixed ahead of key data
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Asian shares mixed ahead of key data

Dollar maintained gains against the yen as dealers took in their stride a new wave of sanctions against Russia

Seoul slides 0.23%, Sydney loses 0.89%, Shanghai rises 0.84%, while Hong Kong adds 1.45%. Photo: AFPPremium
Seoul slides 0.23%, Sydney loses 0.89%, Shanghai rises 0.84%, while Hong Kong adds 1.45%. Photo: AFP

Hong Kong: Asian markets were mixed in edgy trade Tuesday following a pick-up on Wall Street as investors await key economic news from around the world later in the week.

The dollar maintained the gains against the yen it achieved in New York as dealers took in their stride a new wave of sanctions against Russia over its role in the Ukraine crisis.

Seoul slid 0.23%, or 4.49 points, to 1,964.77 while Sydney lost 0.89%, or 49.5 points, to finish at 5,486.6. Tokyo was closed for a public holiday.

Shanghai rose 0.84%, or 16.85 points, to 2,020.34 and Hong Kong added 1.45%, or 321.36 points, to end at 22,453.89 after falling almost two% in the previous two sessions.

US shares mostly bounced back on Monday after tumbling at the end of last week, with attention now on a Federal Reserve announcement Wednesday on plans for its stimulus programme.

On Friday non-farm payrolls data will be released, giving a handle on the state of the world’s number one economy.

Friday will also see the release of surveys of manufacturing activity from around the world, with the main focus on China. Dealers are hoping for signs that a recent slowdown in the Asian economic giant has bottomed out.

On Wall Street the Dow added 0.53% and the S&P 500 rose 0.32% but the Nasdaq dipped 0.03%.

Singapore’s United Overseas Bank (UOB) said traders were exercising caution “ahead of the US Fed meeting and US non-farm payroll data, as well as a holiday shortened trading week".

There was little reaction to another round of US sanctions against seven Russian officials and 17 Kremlin-linked firms. The European Union said it was adding 15 names to its own list.

The Western sanctions are a response to Russia’s perceived failure to implement an April 17 deal struck in Geneva to defuse the crisis.

In Seoul market major Samsung Electronics sank 2.02% after saying operating profit fell for a second straight quarter owing to slowing sales of its smartphones.

The dollar bought 102.62 yen, compared with 102.45 yen late in New York and well up from 102.20 yen earlier Monday in Asia.

The euro fetched $1.3864 against $1.3851, while it was also at 142.27 yen from 141.95 yen.

Oil was up in Asia. US benchmark, West Texas Intermediate for June delivery, climbed 35 cents to $101.19 in afternoon trade. Brent North Sea crude for June rose 44 cents to $108.56.

Gold fetched $1,290.38 an ounce at 1050 GMT compared with $1,301.45 on Monday.

In other markets:

—Bangkok added 0.08%, or 1.10 points, to 1,412.33.

Department store operator Central Pattana gained 3.45% to 45.00 baht, while coal producer Banpu rose 1.77% to 28.75 baht.

—Jakarta closed higher 0.02%, or 0.92 points, at 4,819.68.

State-controlled miner Aneka Tambang fell 0.83% to 1,200 rupiah, while palm oil producer Astra Agro Lestari rose 1.75% to 29,000 rupiah.

—Kuala Lumpur inched up 0.19%, or 3.6 points, to 1,859.34.

Telecommunication company Maxis gained 0.4% to 6.92 ringgit, while utility Tenaga Nasional rose 0.5% to 11.90.

—Manila gained 0.49%, or 32.10 points, to 6,636.45.

Ayala Corp. added 0.73% to 618.50 pesos while Alliance Global Group rose 0.16% to 30.65 pesos.

—Mumbai fell 0.73%, or 165.42 points, to 22,466.19.

Jindal Steel and Power Ltd slid 7.41% to 253.20 and Future Retail Ltd fell 6.49% to 121.05.

—Singapore slid 0.15%, or 4.97 points, to 3,237.74.

Oil rig maker Keppel Corp gained 0.38% to Sg$10.56 while vehicle distributor Jardine Cycle and Carriage eased 2.02% to Sg$46.54.

—Taipei rose 0.71%, or 62.4 points, to 8,872.11.

Taiwan Semiconductor Manufacturing Co added 1.26% to Tw$120.5 while leading cellphone camera lens maker Largan Precision shed 2.51% to Tw$1,940.

—Wellington climbed 0.64%, or 32.49 points, to 5,149.29.

Fletcher Building was up 0.92% at N$9.85 and Telecom added 2.06% to NZ$2.72. AFP

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Published: 29 Apr 2014, 08:48 AM IST
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