This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Asian Stock Markets Mixed As Gains Cashed In

By PAMELA SAMPSON

BANGKOK (AP) â¿¿ World stock markets fell Friday as investors turned cautious and took profits from recent rallies in spite of evidence pointing to an improving U.S. employment picture.

Japan's Nikkei 225 index retreated 0.5 percent to close at 13,485.14, a slip from the day before when the Tokyo benchmark closed above 13,500 for the first time since August 2008. The Nikkei has been riding high on the Bank of Japan's aggressive new approach to jolting the world's third-largest economy out of a prolonged slump.

Britain's FTSE 100 fell 0.5 percent to 6,382.75. Germany's DAX shed 1 percent and France's CAC-40 lost 0.8 percent to 3,747.31. Wall Street also appeared set for losses after a week of record-setting gains. Dow Jones industrial futures fell 0.1 percent to 13,779 and S&P 500 futures lost 0.1 percent at 1,585.50.

Evan Lucas of IG Markets in Melbourne said profit-taking was putting pressure on Australia's resource-heavy benchmark S&P/ASX 200 index, which rose 0.2 percent to 5,015.50.

"This will unfortunately dampen what has otherwise being a solid week for the local market, and may see stronger downside pressure in the afternoon as it is the end of the week and investors will close up positions," he said in a commentary.

BHP Billiton, the world's largest mining company, slipped 0.2 percent. Rio Tinto Ltd. dropped 2 percent. But Woodside Petroleum Ltd. rose 3.2 percent after the energy company said it has shelved a proposed 45 billion Australian dollar ($47 billion) liquefied natural gas plant in northwestern Australia because of rising costs for the project.

South Korea's Kospi tumbled 1.3 percent to 1,924.23, as jitters persisted over tensions on the Korean Peninsula. India's Sensex fell 1.5 percent to 18,269.16. Benchmarks in Indonesia and Thailand rose. Mainland Chinese shares were nearly unchanged. Taiwan's fell.

Hong Kong's Hang Seng fell 0.1 percent to 22,089.05. Market turnover was subdued, as traders kept a recent outbreak of bird flu in eastern China on their radar screens. Ongoing tensions and war-like rhetoric between North and South Korea were also stirring concerns.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs