Latest Stories

Asian shares mixed, Nikkei up on weaker yen

Tokyo stock price index July 16, 2013 screen grab from http://www.tse.or.jp/english/

HONG KONG—Asian markets were mixed on Tuesday following a rally in the previous session, while Tokyo enjoyed a pick-up after a long weekend as the dollar remained strong against the yen.

Wall Street provided strong support after the Dow and S&P 500 closed at record highs for a third straight session despite weak retail sales figures.

Tokyo rose 0.61 percent as it played catch-up with a region-wide advance on Monday, while Sydney was flat, but Hong Kong eased 0.26 percent, Shanghai fell 0.41 percent and Seoul lost 0.32 percent.

Profit-taking weighed on prices after Monday’s gains fuelled by Chinese economic growth data that come in line with forecasts.

However, the 7.5 percent expansion in April-June still represented a second mixed straight quarter of slower growth, highlighting weakness in the world’s number two economy.

Japanese investors took advantage of the softer yen, which began to fall against the dollar last week after Federal Reserve chief Ben Bernanke said the bank’s easy money policy would remain in place for some time.

In early Tokyo forex trade the dollar, which peaked above 100 yen in early trade, eased slightly to sit at 99.90 yen by late morning, compared with 99.82 yen in New York late Monday.

The euro fetched $1.3055 and 130.54 yen compared with $1.3064 and 130.41 yen in New York.

On Wall Street the Dow rose 0.13 percent and the S&P 500 added 0.14 percent, both hitting all-time highs for a third-straight session. The Nasdaq gained 0.21 percent.

US traders brushed off figures showing retail sales in June rose just 0.4 percent, below the 0.7 percent expected by analysts. Excluding motor vehicle and parts sales, retail sales were flat.

With few new catalysts to drive action, focus will now turn to Bernanke’s testimony on the US economy and monetary policy Wednesday and Thursday. There will also be a two-day meeting of the Group of 20 finance ministers and central bank governors that concludes Friday.

Oil prices were mixed, with New York’s main contract, light sweet crude for delivery in August up 22 cents to $106.54 a barrel while Brent North Sea crude for August delivery shed 10 cents to $108.99 in morning trade.

Gold fetched $1,277.40 per ounce at 0210 GMT, compared with $1,282.92 late Friday.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Asia , Business , Stock Activity , stock exchange

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • 4.9 quake jolts Batanes on Maundy Thursday
  • Presidents, celebrities mourn writer Garcia Marquez
  • MH370 search to be most costly ever at $100 million — analysts
  • Iraqi guilty of beating wife to death in US
  • Avalanche sweeps Everest; 6 killed, 9 missing
  • Sports

  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Can Spurs get back at Heat? Can they survive West?
  • Hopkins, 49, seeks win for the ageless
  • LeBron still No. 1 with NBA’s most popular jersey
  • Pacquiao back in PH, heads home to wife, kids
  • Lifestyle

  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Entertainment

  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Whoopi Goldberg debuts as marijuana columnist
  • ‘X-men’ director accused of sex assault on teen boy
  • Cannes film festival launches race for 2014 Palme d’Or
  • Business

  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Oil prices mixed ahead of long Easter weekend
  • Technology

  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Last call for nominations to ’14 Presidential Awards
  • San Francisco business coalition slams proposed tax on sugary drinks
  • A ‘time-travel’ production of ‘Les Miserable’ at Stanford
  • Filipina Maryknoll sister honored for years of service
  • Malaysia quarantines 64 villagers over MERS virus
  • Marketplace