Nikkei:9,107.43 (+21.02) Hang Seng:20,212.08 (–48.02) Shanghai Comp:2,608.17 (–18.60)
JAPANESE STOCKS edged higher yesterday after Google’s plans to buy phone maker Motorola Mobility triggered buying of some technology stocks, though worries about the health of the US economy and a strong yen were seen to limit gains.
Murata Manufacturing, a supplier of smartphone parts, gained 0.9 per cent to 4,920 yen. Chipmaker Elpida Memory rose 5.1 per cent to 538 yen.
Some investors put money in real estate, seen as a safer bet because their earnings are tied to domestic demand. Mitsui Fudosan, Japan’s largest developer, rose 2.9 per cent to 1,265 yen, while rival Mitsubishi Estate gained 1.6 per cent to 1,231 yen. Among other big gainers Yamaha rose 3.5 per cent to 1,243 yen.
Hong Kong shares edged higher as investors bought into China-related counters in anticipation of a slowdown in the local property market.
CNOOC, China Coal Energy and Bank of Communications were among the leading percentage gainers. However average turnover suggested investors remained cautious over the impact on local markets of the unresolved European debt crisis. – (Reuters)
