Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Most Asian stocks gain on Chinese data

Most Asian stocks gain on Chinese data

Most Asian stocks gain on Monday in morning trade after data showed Chinese industrial profits increased for a fourth month.

The MSCI Asia Pacific Index lost 0.1% to 132 as of 10:44 a.m. in Tokyo. Japan’s Nikkei 225 Stock Average slid 0.5% after rising as much as 0.7%.

South Korea’s Kospi Index retreated 0.4% today even after consumer confidence climbed to the highest level in eight months as incoming President Park Geun Hye pledges to boost economic growth and increase welfare spending.

Taiwan’s Taiex Index rose 0.3%. Singapore’s Straits Times Index gained 0.2%, Hong Kong’s Hang Seng Index rose 0.4% and China’s Shanghai Composite Index advanced 0.5%.

Sony Corp. jumped 5.9% after Citigroup raised its rating to "buy" from "neutral", saying the softer yen has enabled Sony to take more risks on operations such as the home appliance business.

Industrial robots maker Fanuc fell 4.9% after slashing its operating forecast for the year ending March by almost 20% to $2 billion after the bell on Friday.

Advantest shed 5% after the Nikkei business daily said the chipmaker's operating profit for the year ending March was expected to undershoot expectations.

China stocks traded higher, boosted by aviation-related stocks on expectations for further investment in the sector.

Nintendo climbed 4.8% after Hana Financial Group Inc. announced a buyout plan for the Seoul-based lender.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter