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Stocks in Tokyo, HK, Australia end higher
TOKYO, Japan -- Tokyo stocks ended higher on Tuesday, as did shares in Hong Kong and Australia. Other Asian markets were mainly down, with Korea and Taiwan ending lower and the BSE in Mumbai losing 2.5 percent by mid-afternoon on troubles for the Unit Trust of India. Japan's benchmark Nikkei 225 average closed 0.52 percent higher, gaining 66.23 points to 12,817.40. The broader TOPIX index rose 6.5 points or 0.51 percent to 1,293.42. Investors in Japan took their cue from a recovery in U.S. blue chips and buying in high-tech and communications issues. Australia rebounds from Monday's declineAustralia's benchmark S&P/ASX200 rebounded from Monday's decline to close 11.6 points or 0.34 percent higher at 3450.0. Blue chips such as media giant News Corp, Telstra and BHP Billiton made gains, but all four of the main banks eased. In Wellington, New Zealand's Top 40 index ended 6.99 points down at 2062.06. In Seoul, the Kospi finished the day down 2.43 points to 594.31 on weakness among stocks such as Hyundai Motor, Hynix Semiconductor and LG Construction. In Taiwan, the Taiex was down 43.04 points to 4843.82. Chip foundry TSMC and most other tech stocks were weaker, though Acer and Hon Hai Precision made gains. Hong Kong's Hang Seng index gained more than 1 percent, closing 142.22 points higher at 13,184.75, with gains across the board. Overnight in New York, the Dow Jones industrial average gained 91 points to 10,593.72, but the Nasdaq composite eased 11.82 points to 2148.72. Recovery in Europe helps tech issuesA recent recovery in European telecoms and a rebound in shares of dominant carrier Nippon Telegraph and Telephone Corp from an eight-year low offered another slight boost to sentiment, market participants said. NTT stock rose 1.34 percent to 682,000 yen. Its mobile unit NTT DoCoMo gained 2.38 percent to 2.15 million yen. But a deteriorating economy and jitters over corporate earnings dulled the broader market's ascent. "We're seeing some investors testing the tech waters, but the urge to sell after slight rises is extremely strong. This trend is unlikely to change soon given uncertainty over the high-tech profit outlook," said Yoshihisa Okamoto, senior vice president at Fuji Investment Management. Toshiba, Honda make gainsSelect chip stocks posted modest gains. Advantest, a major semiconductor testing device manufacturer, climbed 1.65 percent to 10,470 yen, while Japan's top chip maker, Toshiba, rose 1.11 percent to 640 yen after sliding nearly four percent in the previous session. Honda Motor Co rose for a fourth day, ending up 0.36 percent at 5,620 yen after Japanese industry data released Monday showed Honda outshone rivals with a nearly 40 percent rise in sales in June. Fast Retailing Co Ltd rose 2.07 percent to 21,650 yen after the operator of the popular Uniqlo casual clothing chain said on Monday that sales rose 28.4 percent in June from a year earlier. Reuters contributed to this report. |
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