Asian markets ended mixed Monday, with a weaker yen buoying Japanese exporters as details of a euro zone debt package for Greece emerged.
In Tokyo, the Nikkei 225 gained 47.56 points, or 0.4%, to 11,251.90
In Hong Kong, the Hang Seng index gave back 70.33 points, or 0.3%, to 22,138.17.
News the European Union had agreed Sunday to details of a rescue package if the Greek government needed one helped risk appetite. In foreign-exchange markets as well, the euro was sharply higher against the U.S. dollar and the yen, after euro-zone finance ministers agreed Sunday that if heavily indebted Greece were to receive a bailout, it could get as much as 30 billion euro ($40.8 billion U.S.) in loans this year at about 5% interest from fellow euro nations. The rate was well below the 7% on Greek sovereign debt last week.
Japanese exporters advanced on hopes the weaker yen could raise earnings for companies exporting to Europe. Canon gained 0.6% and Nintendo advanced 3.1%, while Mazda added 0.8%.
In Sydney, BHP Billiton gained 1.3% and Rio Tinto was up 1.5%.
MacArthur Coal surged 6.2% on strong volume, even though it denied reports that it had received a takeover offer from Xstrata.
In Hong Kong, shares of United Co. Rusal gained 0.9% after the aluminum giant reported a higher-than-expected profit in 2009 following losses in the previous year.
Dentsu gained 4.2% in Tokyo after it raised its earnings forecast for the fiscal year ending March. It now expects net profit of 27.50 billion yen ($295 million U.S.), compared with a 24.60-billion-yen forecast earlier.
KB Financial Group rose 2.5% and Korea Exchange Bank added 1.1%, while heavyweight Samsung Electronics dropped 3%.
Japanese government bonds were lower with stocks in Tokyo pushing higher. The key June JGB futures contract was down 0.17 at 138.23 points, while the yield on the 10-year cash bond was up 1.5 basis points at 1.395%
Elsewhere;
Shanghai’s CSI 300 Index skidded 27.69 points, or 0.8%, to 3,351.48
Korea’s Kospi index fell short 14.17 points, or 0.8%, to 1,710.30
Singapore’s Straits Times Index gained 5.20 points, or 0.2%, to 2,977.17
Taiwan’s Taiex index tacked on 25.72 points or 0.3% to 8,117.75
New Zealand’s NZX 50 Index gained 3.90 points, or 0.1%, to 3,314.14
Australia’s S&P/ASX 200 picked up 36.20 points, or 0.7%, to 4,984.30
