Asian stocks mixed [Daily Tribune (Bahrain)]
(Daily Tribune (Bahrain) Via Acquire Media NewsEdge) ? ? Asian markets were mixed yesterday as profit-taking and renewed concern about a US strike on Syria tempered buying sentiment, although Tokyo recouped early losses as the dollar approached 100 yen. Wall Street provided a positive lead after the United States followed China and Europe in posting upbeat manufacturing data that raised hopes for the global economic outlook. Tokyo ended 0.54 per cent higher, adding 75.43 points to 14,053.87, following gains of more than four percent in the previous two sessions. Shanghai was up 0.21pc, or 4.51 points, at 2,127.62. Hong Kong fell 0.31pc, or 68.36 points, to 22,326.22, while Sydney slipped 0.67pc, or 35.0 points, to 5,161.6 and Seoul closed flat, edging down 0.71 points to 1,933.03. September trading started strong on Monday and Tuesday after figures showed activity in China's factories at their highest level in 16 months, while eurozone manufacturing was at its highest for more than two years. On Tuesday there were similar results from the United States, adding to growing hopes of a pick-up in developed nations, which investors hope can kickstart a global trend. The economic data is welcome news after a tough August that saw widespread selling mainly in emerging economies as dealers bet the US Federal Reserve will soon begin to wind down its stimulus programme. On their first day of trade after the long Labor Day weekend, shares on Wall Street advanced, with the Dow up 0.16pc, the S&P 500 adding 0.42pc and the Nasdaq 0.63pc higher. In other markets, Taipei was almost unchanged, nudging 4.93 points lower to 8,083.44. PC maker Acer shed 2.42pc to Tw$20.2 while Taiwan Semiconductor Manufacturing Co.
fell 1.47pc to Tw$100.5. Manila fell 1.90pc, or 115.58 points, to 5,968.33. Philippine Long Distance Telephone Co. slipped 2.11pc to 2,790 pesos and Bank of the Philippine Islands lost 1.34pc to end at 91.70 pesos. Wellington was flat, edging up 3.60 points at 4,610.31. TradeMe was up 2.07pc at NZ$4.43 and Telecom fell 0.89pc to NZ$2.22. ? ?
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