Asian Markets Update: Bargain Hunting Helps Shares Close Flat or Higher
TOKYO -- Asian stock markets ended Tuesday flat to solidly higher, as some investors went shopping for bargains following a heavy selloff Monday.
In Tokyo, the
Nikkei 225
closed down 4.6 points, virtually unchanged at 14,660.0 and the
Topix
index, which includes all shares listed on the
Tokyo Stock Exchange
, fell 6.5, or 0.5%, to 1389.2.
TDK
(TDK)
rose 170 yen, or 1.6%, to 11,170 ($103.72), but most Japanese technology shares were largely left out of the rebound.
NEC
(NIPNY)
dropped 70 yen, or 3.2%, to 2120 and
Fujitsu
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fell 26 yen, or 1.3%, to 1909.
NTT DoCoMo
(NTDMY)
closed down 20,000 yen, or 0.7%, at 2.84 million, ahead of the release of the wireless operator's first-half results.
Nippon Telegraph & Telephone
(NTT)
closed down 10,000 yen, or 1.1% to 910,000.
The dollar traded at 107.70 yen from 108.01 yen Monday.
Elsewhere, Hong Kong's
Hang Seng
index rebounded strongly, rising 361.8, or 2.4%, to 15,177.5.
China Mobile
(CHL) - Get China Mobile Ltd. Report
rose HK$1.20, or 2.5%, to 49.50 ($6.35) and
HSBC
(HBC)
climbed HK$2.50, or 2.2%, to 113.50.
South Korea's
Kospi
index jumped 14.1, or 2.6%, to 553.0, as
Samsung Electronics
rose 7,000 won, or 4.4%, to 164,500 ($144.17) and
Korea Telecom
(KTC)
closed up 1,900 won, or 2.8%, at 70,900.
Taiwan's
TWSE
index fell 21.0 points, or 0.4%, to 5772.5.
