Nikkei: 9,833.03 (–68.32) Hang Seng: 22,440.25 (–130.49) Shanghai Comp: 2,701.73 (–7.05)ASIAN EQUITY markets endured a tough week as the region's stocks got caught up in the global sell-off of risk assets surrounding the sovereign debt problems in the euro zone and US.
Investors were also grappling with a deluge of second-quarter earnings reports.
Hyundai Motor together with affiliate Kia Motors, reported a 37 per cent jump in second-quarter earnings. Shares in Hyundai fell 0.6 per cent over the week to Won235,000, while Kia rose 0.1 per cent to Won77,400.
Nissan Motor was caught in the selling, even after it reported better than expected first-quarter results. Its stock fell 4.5 per cent on the week to ¥822. Toyota lost 5.3 per cent to ¥3,155 and Honda shed 4.8 per cent to ¥3,080.
Technical stocks had a tough week as global hardware groups reported easing demand. Nintendo slumped 17.7 per cent over the week to ¥12,270, after it cut the price of its 3DS hand-held game console by up to 40 per cent.
Sony slid 7.3 per cent to ¥1,947 on the week after reporting a net loss in the fiscal first quarter. Toshiba was off 4.5 per cent to ¥400. – (Copyright The Financial Times Limited 2011)
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