Investing.com – Asian stocks were mixed on Thursday, amid concerns over an escalation of violence in Egypt, while markets in Hong Kong and South Korea remained closed in observance of the Chinese Lunar New Year.
During late Asian trade, Japan’s Nikkei 225 Index shed 0.25%, Australia’s S&P/ASX 200 Index rose 0.50%, while South Korea's Kospi Composite and Hong Kong's Hang Seng Index remained closed.
On Wednesday, supporters of Egyptian President Hosni Mubarak clashed with anti-government protesters demanding an immediate end to the 30-year reign of the president, who said earlier in the week that he would not step down before elections due in September.
Meanwhile, shares in consumer electronics manufacturer Panasonic tumbled 3.2% after it said that its fourth quarter operating profit fell for the first time in five quarters.
Shares in rival Sharp dropped 3.13% after it reported lower-than-expected fourth quarter earnings, as results were weighed by a strong yen.
Elsewhere, shares in office equipment manufacturer Ricoh plunged 9.93% after JP Morgan-Chase downgraded the stock.
In Australia, shares in insurers led gains after Cyclone Yasi, which hit North Queensland in the early hours of Thursday, caused less damage than initially feared. The cyclone was later downgraded to a category 2 system from a category 5 storm by Australia’s Bureau of Meteorology.
Shares in the nation’s largest insurer Insurance Australia jumped 3.02%, rival Suncorp Group climbed 2.92%, while IAG saw shares rise 2.23%.
Meanwhile, shares in resource stocks were higher after metal prices gained. Shares in the world’s largest mining group BHP Billiton was up 1.36%, rival Rio Tinto added 0.44%, while shares in copper producer Equinox Minerals rallied 7.59%.
The outlook for European equity markets, meanwhile, was modestly downbeat. The EURO STOXX 50 futures pointed to a drop of 0.07%, France’s CAC 40 futures indicated a loss of 0.03%, the FTSE 100 futures pointed to a decrease of 0.18%, while Germany's DAX futures were down 0.05%.
Later in the day, the ECB was to announce its minimum bid rate and give its closely watched monthly press conference. The euro zone was also to publish official data on retail sales.
Meanwhile, the U.S. was to publish its weekly report on initial jobless claims as well as data on labor costs, productivity and factory orders. In addition, the Institute of Supply Management was to publish its non-manufacturing PMI.
During late Asian trade, Japan’s Nikkei 225 Index shed 0.25%, Australia’s S&P/ASX 200 Index rose 0.50%, while South Korea's Kospi Composite and Hong Kong's Hang Seng Index remained closed.
On Wednesday, supporters of Egyptian President Hosni Mubarak clashed with anti-government protesters demanding an immediate end to the 30-year reign of the president, who said earlier in the week that he would not step down before elections due in September.
Meanwhile, shares in consumer electronics manufacturer Panasonic tumbled 3.2% after it said that its fourth quarter operating profit fell for the first time in five quarters.
Shares in rival Sharp dropped 3.13% after it reported lower-than-expected fourth quarter earnings, as results were weighed by a strong yen.
Elsewhere, shares in office equipment manufacturer Ricoh plunged 9.93% after JP Morgan-Chase downgraded the stock.
In Australia, shares in insurers led gains after Cyclone Yasi, which hit North Queensland in the early hours of Thursday, caused less damage than initially feared. The cyclone was later downgraded to a category 2 system from a category 5 storm by Australia’s Bureau of Meteorology.
Shares in the nation’s largest insurer Insurance Australia jumped 3.02%, rival Suncorp Group climbed 2.92%, while IAG saw shares rise 2.23%.
Meanwhile, shares in resource stocks were higher after metal prices gained. Shares in the world’s largest mining group BHP Billiton was up 1.36%, rival Rio Tinto added 0.44%, while shares in copper producer Equinox Minerals rallied 7.59%.
The outlook for European equity markets, meanwhile, was modestly downbeat. The EURO STOXX 50 futures pointed to a drop of 0.07%, France’s CAC 40 futures indicated a loss of 0.03%, the FTSE 100 futures pointed to a decrease of 0.18%, while Germany's DAX futures were down 0.05%.
Later in the day, the ECB was to announce its minimum bid rate and give its closely watched monthly press conference. The euro zone was also to publish official data on retail sales.
Meanwhile, the U.S. was to publish its weekly report on initial jobless claims as well as data on labor costs, productivity and factory orders. In addition, the Institute of Supply Management was to publish its non-manufacturing PMI.