Japanese stocks gave back previous gains

Source: Dukascopy Bank SA
Japanese equities slumped on Tuesday amid profit-taking after previous rally. Moreover, broadly stronger yen sent exporters lower thus putting additional pressure on Japanese stock average. Meanwhile, investors' attention remained on the forthcoming naming of the new governor of the BoJ. The Nikkei 225 Index fell 0.31% to close at 11,372.34. Only three industries included in the index moved higher. The top-performers were oil and gas as well as consumer goods industries. JX Holdings climbed 2.84%, while Bridgestone jumped 10.37%. Bridgestone skyrocketed after announcing a 50% jump in its operating profit for 2012. Dragging Nikkei 225 Index lower, telecommunication and technology firms retreated 1.11% and 0.85%. Nippon Telegraph & Telephone declined 1.98%, while Alps Electric slumped 2.16%. Among laggards was also Fanuc that dived 4.09% after the Japan Machine Tool Builders' Association announced that China's orders of machine tools plunged by annualized 65% in January.
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Tue, 19 Feb 2013 12:04:03 GMT

Hong Kong equities retreat on real estate concerns

Hong Kong shares tumbled for the second consecutive session on Tuesday amid concerns that an increase in property prices will lead to fresh restrictions on the housing market. The National Bureau of Statistics reported that the average home price increased for a fifth month in line in December whereas investment in real estate surged by annualized 16.2%. The Hang Seng

Tue, 19 Feb 2013 11:53:04 GMT

Australian shares advanced amid mixed companies' results

Australian shares traded higher on Tuesday amid mixed earnings results. Meanwhile, uncertainty over whether the RBA will cut rates further this year weighed on stocks. In the minutes released today, the RBA stated it will wait to see more results of its loose monetary policy to decide whether more rate cuts are necessary in 2013. The S&P/ASX 200 Index gained

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