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Most Asia markets struggle but Tokyo back in black

21 December 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

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AFP - Most Asian markets struggled yesterday with traders spooked by geopolitical concerns following deadly attacks in Europe but Tokyo’s Nikkei returned to winning ways, reversing an earlier sell-off as the yen rebounded.
The euro retreated against the dollar after at least 12 people were killed and dozens injured late Monday when a lorry was driven into a packed Berlin Christmas market in what police said was “a probable terrorist attack”.
Hong Kong was 0.6 percent lower in the afternoon while Shanghai ended down 0.5 percent, with mainland Chinese investors fret over a weakening yuan and rising bond yields that are making borrowing more costly.
Manila shed 1.6 percent, Jakarta fell 0.3 percent and Kuala Lumpur lost 0.2 percent while Bangkok and Mumbai were also well down.
However, Tokyo ended 0.5 percent higher after the Bank of Japan held fire on its stimulus but gave an upbeat view of the world’s number-three economy as exports pick up on the back of a weaker yen. The Nikkei fell slightly Monday for the first time after a nine-day rally.
Sydney added 0.5 percent and Seoul gained 0.2 percent while Taipei and Wellington were flat.

 


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