Asian stocks mixed, weak data cancel Wall St lead

by Noor Bangash Thu Sep 15, 2011 1:56 pm

[You must be registered and logged in to see this image.]

HONG KONG: Asian stocks were mixed Wednesday as a strong lead from Wall Street was cancelled out by profit-taking as well as negative regional news and political uncertainty in Japan.

Downbeat figures from China showing purchasing managers were less optimistic over future growth than at any time in the last nine months sent Shanghai lower.

Negative growth numbers from Australia, showing the economy's worst quarter-on-quarter performance in two decades, also affected sentiment.

Sydney ended flat, dipping 1.0 point to 4,707.3, while Seoul was also virtually unchanged, edging down 1.13 points to 2,141.34.

Hong Kong was off 0.12 percent in early trade, while Shanghai dropped 0.30 percent after data showed domestic manufacturing expanded at a slower pace in May, dealers said.

Tokyo ended up 0.27 percent, or 25.88 points, 9,719.61.

Wednesday's weak performance follows a strong rally across the region the day before. (APP)