Asia markets trim losses to end mixed

Asian markets ended mixed yesterday, trimming earlier losses sparked by a decline on Wall Street and concerns about Italy’s finances that stoked fresh fears about the eurozone. Stocks were also pushed lower by the prospect that Germany may delay the launch of a permanent bailout fund for the eurozone, dealers said. The euro held steady in Asian trade. Tokyo closed flat, edging down 0.08%, or 6.73 points, to end at 8,851.00, while Sydney lost 0.04%, or 1.52 points, to finish at 4,096.50 points. Hong Kong put on 0.12%, or 23.51 points, to finish at 19,419.87, while Shanghai ended up 0.51%, or 10.94 points, at 2,175.38. Seoul lost 0.17%, or 3.06 points, to close at 1,826.39. In other markets; Taipei rose 0.09%, or 6.56 points, to 7,257.91; Wellington rose 0.41%, or 14.12 points, to 3,478.84; Manila closed 0.09%, or 4.84 points, lower at 5,235.44; Singapore closed up 0.83%, or 24.69 points, at 2,989.31; Kuala Lumpur ended 0.32%, or 5.16 points higher, at 1,629.45; Bangkok rose 0.35%, or 4.25 points, to 1,208.67; and Jakarta closed 0.23%, or 9.45 points, higher at 4,019.13. Trade was lacklustre as Asian bourses awaited more key data from China later this week, including second-quarter gross domestic product, as well as the outcome of a two-day Bank of Japan policy meeting, due to end today. “It is pretty quiet. There are not a lot of people taking big positions, either long or short,” John Vail, chief global strategist at Nikko Asset Management in Tokyo, told Dow Jones Newswires. US stocks closed sharply lower on Tuesday on concerns over American corporate earnings and a slump in confidence registered by a US small-business survey. The Dow Jones Industrial Average dropped 0.65%, while The S&P 500 fell 0.81% and the tech-rich Nasdaq slipped 1.00%. from gulf times.