BANGKOK (AP) -- Asian markets were mixed Tuesday as investors were wary ahead of a Group of 20 leaders summit and a stream of earnings and data that are likely to confirm the global economy is still a mess.
The region's markets tumbled Monday as events in the U.S. signaled that ailing auto giants General Motors and Chrysler were being corralled into Chapter 11 bankruptcy protection by the Obama administration. But benchmarks are still up strongly for the month, reflecting a rally that some analysts say was driven largely window-dressing by big funds.
"There were a lot of big names active in the past month trying to talk up the market and improve performance because for many fund managers March is the last month of the financial year," said Arjuna Mahendran, head of Asian investment strategy at HSBC Private Bank in Singapore.
"That fed on itself but it didn't reflect anything fundamental. First quarter corporate results are bound to be downbeat and on the macroeconomic front, the situation is still very opaque," he said.
Japan's Nikkei 225 stock average reversed early gains to fall 84 points, or 1 percent, to 8,151 by afternoon trading, while Hong Kong's Hang Seng was up 39.77, or 0.3 percent, to 13,496.10 after diving nearly 5 percent on Monday.
In South Korea, where a central bank survey showed manufacturers were becoming less pessimistic, the Kospi was up 1.2 percent. Mainland China's Shanghai index was flat, Australia's index was down 0.6 percent, while Singapore's index rose 0.9 percent. more...
Tidak ada komentar:
Posting Komentar