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.
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