Friday Asian Markets: Hong Kong Falters, China Bounces Back
Aggregated Source: China Stocks News and Analysis from Seeking Alpha
December 7, 2007|
The Hang Seng fell sharply Friday, while the Nikkei and China's Shanghai Composite posted solid gains. In Japan, Toyota (TM) was up 1.6% on a weaker yen, as was Honda (HMC +1.3%).
It was Hong Kong's first dip after seven straight days of gains; investors decided to take profits before the weekend, in light of the influential and at times unpredictable U.S. non-farms payroll due Friday. HSBC (HBC) bucked the trend, gaining 2.3%, as did Alibaba.com (+2.4%).
China markets rebounded from a Thursday drop after traders decided the government's announced shift to "tight" money policy from "prudent" presented no major threat to corporate profits.
ASIA INDEXES
| INDEX | CHANGE | CLOSE | LOSS/GAIN |
| NIKKEI 225 | +0.5% | 15,956 | +82 |
| HANG SENG | -2.4% | 28,842 | -716 |
|---|---|---|---|
| SHANGHAI COMP. | +1.1% | 5,092 | +57 |
| BSE SENSEX 30 | +0.5% | 19,892 | +96 |
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