Asia shares mixed after new Wall St. record
People watch an electronic stock indicator of a securities firm in Tokyo on Tuesday, May 13, 2014. Asian stock markets were mixed on Wednesday, with another record-breaking close on Wall Street offset by profit-taking after the previous day’s healthy gains. AP PHOTO/SHIZUO KAMBAYASHI
HONG KONG—Asian markets were mixed on Wednesday, with another record-breaking close on Wall Street offset by profit-taking after the previous day’s healthy gains.
The euro was slightly firmer after taking a hit from a survey which showed German investor sentiment at an 18-month low, raising concerns about Europe’s biggest economy.
Tokyo eased 0.14 percent, or 19.68 points, to 14,405.76, Sydney was flat, dipping 0.03 percent or 1.7 points to 5,496.5, and Shanghai eased 0.14 percent, or 2.82 points, to 2,047.91.
Seoul closed 1.41 percent higher, adding 27.90 points to 2,010.83. Hong Kong advanced 1.03 percent, or 230.39 points, to 22,582.77.
Traders took their foot off the pedal after Tuesday’s rally in Asia, which was inspired by a big pick-up on Wall Street thanks to big gains for tech shares.
In New York on Tuesday the Dow and S&P 500 extended Monday’s gains despite weaker than expected retail sales data.
The Dow added 0.12 percent and the S&P 500 edged up 0.04 percent, both setting new closing records, but the Nasdaq dipped 0.33 percent after surging 1.77 percent Monday.
US retail and food services sales rose a mere 0.1 percent in April, softer than the 0.3 percent gain expected by analysts. However, the March increase was upwardly revised to 1.5 percent from the prior estimate of 1.2 percent.
In foreign exchange trade the euro edged up against the dollar after falling below the $1.370 level on Tuesday in New York for the first time since February.
Dealers were spooked by data showing investment sentiment in Germany in May at the lowest level since January 2013, as concerns grow that the region’s top economy is losing momentum.
The euro bought $1.3715 against $1.3701 late in New York, while it was at 139.99 yen compared with 140.12 yen.
The dollar was trading at 102.06 yen compared with 102.26 yen in New York.
Oil prices rose. New York’s main contract, West Texas Intermediate for June delivery, was up 36 cents at $102.06 in afternoon trade. Brent North Sea crude for June gained 34 cents to $109.58 per barrel.
Gold fetched $1,303.17 an ounce at 1100 GMT compared with $1,291.74 late Monday.
In other markets:
— Bangkok added 1.52 percent, or 20.89 points, to 1,396.03.
Telecoms company Advanced Info Service gained 4.31 percent to 242 baht, while Bangkok Life Assurance rose 4.55 percent to 74.75 baht.
— Jakarta closed 1.43 percent higher, or 70.24 points, to 4,991.64.
Cement maker Indocement Tunggal Prakarsa rose 5.27 percent to 23,975 rupiah, while lender Bank Danamon fell 0.69 percent to 4,300 rupiah
— Kuala Lumpur rose 0.70 percent, or 13.12 points, to finish at a record high 1,879.20.
Hong Leong ended 3.8 percent higher at 16.00 ringgit while Kuala Lumpur Kepong gained 2 percent to 24.88. Fraser & Neave dropped 0.8 percent to 18.10 ringgit.
— Taipei rose 0.65 percent, or 57.22 points, to 8,875.16.
Taiwan Semiconductor Manufacturing Co. jumped 1.24 percent to Tw$122.0 while smartphone maker HTC was 0.93 percent higher at Tw$163.0.
— Wellington put on 0.27 percent, or 14.02 points, to 5,213.40.
— Manila closed 0.40 percent higher, adding 27.63 points to 6,880.44.
Metropolitan Bank and Trust was unchanged at 86 pesos while Ayala Land rose 1.88 percent to 32.60 pesos.
— Mumbai slipped 0.24 percent or 56.11 points to end at 23,815.12 points.
Bajaj Finance fell 4.35 percent to 1,793 rupees, while Future Retail dipped 3.85 percent to 114.95 rupees.
