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TMCNet:  Asia subdued [Daily Tribune (Bahrain)]

[January 11, 2014]

Asia subdued [Daily Tribune (Bahrain)]

(Daily Tribune (Bahrain) Via Acquire Media NewsEdge) Asian markets were mixed yesterday following another weak lead from Wall Street as investors await the release of key US jobs data, while Shanghai eased after China said its trade surplus shrank in December. Tokyo rebounded from earlier losses thanks to a pick-up in the dollar against the yen. The Nikkei ended 0.20 per cent, or 31.73 points, higher at 15,912.06 and Hong Kong closed up 0.26pc, or 58.92 points, to 22,846.25. However, Seoul finished down 0.39pc, shedding 7.57 points to 1,938.54 and Sydney eased 0.23pc, or 12.0 points, to 5,312.4. Shanghai fell 0.71pc, or 14.32 points, to 2,013.30. Investors were also digesting figures showing China's trade surplus narrowed in December by 17.4pc to $25.64 billion. Exports grew just 4.3pc year on year during the month, much slower than the 12.7pc jump seen in November. In other markets: Taipei rose 0.17pc, or 14.67 points, to 8,529.35. Taiwan Semiconductor Manufacturing Co. rose 0.99pc to Tw$102.0 while smartphone maker HTC fell 1.39pc to Tw$128.0. Wellington added 1.03pc, or 49.52 points, to 4,864.39. Fletcher Building was up 2.79pc at NZ$8.85 and Air New Zealand was unchanged at NZ$1.64. Manila tumbled 1.59pc, or 94.63 points, to 5,842.88. Philippine Long Distance Telephone dipped 0.15pc to 2,690.00 pesos and Metropolitan Bank plunged 4.80pc to 70.35 pesos.


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