Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and 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 Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Play Colin McLean's mid-cap picks

Colin McLean's mid-cap picks

The SVM director and fund manager on his pick of the UK mid-caps.

Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Your Business: Cover Star Club

Profile: Psigma's Edinburgh boss on why he is in Scotland long term

Profile: Psigma's Edinburgh boss on why he is in Scotland long term

When Tim Wishart agreed to launch an Edinburgh office for Psigma he was not expecting to  head the company’s first overseas team

Wealth Manager on Twitter