Most Asian markets ended lower yesterday on fears of a possible downgrade of Greek debt. Japan's Nikkei lost 1.0 per cent while a rising yen weighed on exporters. Taiwan market fell 1.4 per cent and South Korean's Kospi declined 1.6 per cent. But China's Shanghai Composite rose 1.3 per cent, as investors were expecting an annual parliament session in March may reaffirm China's relatively loose monetary policy.
Hyundai Motor Company Limited
Most Asian stock markets rebounded Thursday after the U.S. Federal Reserve's pledge to keep interest rates near zero for "an extended period". But analysts expect this would be a temporary rebound. Yesterday, Japan's Nikkei rose 1.6 per cent, boosted by the upbeat earnings reports. Hong Kong's Hang Seng Index added 1.6%, South Korea's Kospi climbed 1.0 per cent and Taiwan's Taiex climbed 1.8 per cent.
U.S. stocks closed slightly lower on Tuesday, giving up early gains boosted by consumer confidence data and strong earnings from Apple. Investors remained cautious as there were continued concerns over bank regulation plans.
Wall Street rose on Friday led by technology shares after Oracle and BlackBerry maker Research In Motion posted better-than-expected quarterly earnings reports. For the week, the Dow fell 1.3 per cent, the S&P trimmed 0.3 per cent and the Nasdaq rose 1 per cent.
Wall Street closed flat overnight after Federal Reserve Chairman Ben Bernanke said the interest rate would be hold at low for an extended period due to the subdued economy and low inflation.
Asian share markets continue a winning streak on Thursday following the good leads from Wall Street. Japan's Nikkei stock index rose in early trade as exporters were lifted by confidence in global recovery. Korean central bank decided to keep rates unchanged at a record-low 2 per cent.
South Korea's Hyundai Motor (SEO:005380) and its China partner will start building their third plant in China early next year to catch up with the sales growing pace in this market.
Kia Motors (SEO:000270), South Korea's second-largest automaker, said second-quarter net profit more than quadrupled as weakness in the local currency boosted sales revenue.
Asian major markets opened mixed on Thursday. South Korea's KOSPI and Hong Kong' Hang Seng Index were up in the morning, while Tokyo stocks traded lower, struggling between good and bad news.
Today most Asian markets traded lower in the morning despite a positive lead from Wall Street. Tokyo stocks fell on the rising Yen, while South Korean investors sold shares to lock in profits from recent rallies. Hong Kong's Heng Seng Index opened lower, but soon rebounded following the surge in mainland China's Shanghai Composite.