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Asia: Nikkei ends a few points higher
Wed, 08 Feb, 2012
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Asia: Nikkei ends a few points higher
Wed, 10 Mar 2010, 08:51:00
The Nikkei struggled to get off the ground on Wednesday with commodities the main drag on the index. Fears about deflation also emerged following the release of official data. Japan's widely watched core machinery orders fell 3.7% in January in line with expectations, the Cabinet Office said today. In a separate report by the Bank of Japan the CGPI measure of wholesale prices was down 1.5% in February from a year before, prompting concern about deflation. The corporate goods price index rose 0.1% in February. Lower shipping rates sent shares in <b>Kawasaki Kisen Kaisha</b> 2.3% lower. Shares in <b>Softbank</b> fell 1.6% as the yen strengthened against major currencies. <b>KDDI</b> lost 1.5%. <b>Casio Computer</b> bounced 3.4% on news that it will report a move into the black. The benchmark Nikkei 225 index closed 3 points lower at 10,564 in Tokyo. The Hang Seng settled the day flat as investors sat on the sidelines mulling key export and import data. Chinese exports rose a better than expected 45.7% last month from the same month a year earlier. The figures underlined confidence in China's strong economic recovery. <b>China Life</b> built on the previous session's gains after its encouraging profit forecast. Other big movers in Hong Kong included <b>CITIC Pacific</b>, which jumped nearly 5% in the wake of its earnings report. The Hang Seng closed flat at 21,208 in Hong Kong.
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