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Asian markets reverse course to end higher; snap three day’s losing streak

29 Dec 2011 Evaluate

Most of the Asian markets reversed their initial losses and ended the session in the positive terrain snapping their three day’s losing streak on Thursday but, volume remained thin as concerns about Europe’s debt crisis kept investors sidelined in the trade. Earlier, the performance in Asia followed fall of US stocks ahead of Thursday’s auction of long-dated Italian debt, seen as a crucial test of that nation’s ability to borrow at sustainable rates.  Meanwhile, after subdued opening, Chinese share got a lift on speculation of policy easing measures from Beijing. Taiwan stocks also reversed course to end up 0.26 percent on Thursday, although trading was thin due to the holiday season. However, Hong Kong shares fell over half a percent in holiday-thinned trade while, Japanese benchmark Nikkei slipped by 0.29 percent ahead of an Italian debt sale that could prove challenging in thin volumes.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,173.56

3.55

0.16

Hang Seng

18,397.92

-120.75

-0.65

Jakarta Composite

3,808.77

39.56

1.05

Nikkei 225

8,398.89

-24.73

-0.29

Straits Times

2,672.78

6.53

0.24

Seoul Composite

1,825.74

0.62

0.03

Taiwan Weighted

7,074.82

18.15

0.26

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