Asia-Pacific markets see mixed trade on day

Equities markets in the Asia-Pacific region were mixed on Thursday. Among losers on the session, Australian markets were down for the 9th consecutive session. The S&P/ASX200 was down 0.23 percent to 5,796.1 while the Sydney Ordinaries fell 0.24 percent to 5,857. Other decliners in the region included India’s Sensex, which was 0.84 percent lower to 19,700.82, a loss of 167 points. The Taiex was down 0.95 percent to 8,101.63 while the Shanghai Composite dropped 2.63 percent to 5,151.63.

Gainers on the day included South Korea’s Kospi index, which was up 1.09 percent to 1,723.55. The FTSE Straits Times Index was 2.66 percent higher to 3,139.88 and the Hang Seng Index jumped 2.72 percent, just over 664 points, to 25,144.98. Tokyo’s markets also saw gains. The Nikkei 225 was 2.07 percent higher to 13,783.45 while the Topix Index added 1,330.44 and the Mothers market gained 4.07 percent to 645.62. Exporters such as automobile manufacturers and the electronics sector were higher. The real estate sector was also higher, but papermakers saw decilnes.

European markets were lower on the session after a key index on manufacturing in the US was lower, showing significant contraction in January over December. The FTSE Eurofirst 300 was 0.68 percent lower to 1,373.73. The IBEX was down 0.3 percent to 13,775.6 while the Dax fell 0.78 percent to 7,413.53 and the CAC-40 dropped 1.31 percent to 5,157.09. Chipmakers saw gains, as did some manufacturers. Utilities and carmakers were mixed, but industrial gases groups saw declines.

Markets were mixed in London, where the FTSE 100 was 0.68 percent lower to 5,902.4 but the FTSE 250 added 0.37 percent to 9.662.6. Homebuilders and property developers saw significant gains, but miners were lower on the session.

In New York, markets were down in early afternoon trade after testimony before Congress by Federal Reserve chairman Ben Bernanke. The Dow Jones Industrial Average dropped 1.12 percent to 12,326.18 after being up before Mr. Bernanke’s remarks. The Nasdaq Composite was down 0.95 percent to 2,371.81 while the S&P 500 was 1.65 percent lower to 1,350.59. Banks and homebuilders were both lower.

Story link: Asia-Pacific markets see mixed trade on day