World markets were mixed in Wednesday’s trading, the day before Group of 20 leaders meet in Seoul to address global imbalances in spending and capital flows.
The U.S. dollar showed some strength, which gave a boost to Japanese exporters and helped the Nikkei close at a four month high.
In Japan, the Nikkei 225 closed up 136.03 points, or 1.04%, to 9,830.52.
Carmakers had strong days. Toyota Motor Corp 2.2% to 3,045 yen and Nissan Motor Co increased 1.9% to 790 yen.
Banks also got a boost in on Wednesday as speculation on banks being exempt from more strict capital requirements; shares of Mizuho Financial Group surged 7.6% to 126 yen, while Sumitomo Mitsubishi Group Inc. pushed forward by 6% to 2,511 yen and Mitsubishi UFJ closed up 4.2% to 393 yen.
Electronic makers Canon and Sony Corp. closed up; gaining 3% and 1.3%, respectively.
China’s stocks were hurt today as China raised bank reserve requirements, which has spurred concern that the government may be trying to slow the growth that plays an important role to world economy. October inflation data is coming tomorrow. Speculation is that the rate may be as high as 4.4%.
The Shanghai Composite closed down 19.64 points, or .63%, to 3,115.36.
Banks were hurt by concerns over reserve amounts. China Vanke Co lost 3.6% to 9.15 yuan, Poly Real Estate Group closed down by 3.2%, China Merchants Bank Co. fell 3.8 percent to 14.60 yuan and Bank of Communications declined 2.1%.
The Hang Seng closed down; off by 209.99 points to close at 24,875.71.
Shares of Industrial & Commercial Bank of China lost 1.923%, while China Construction Bank Corp fell by 2.154%.
Elsewhere, the smaller markets were also mixed in Wednesday’s trading.
South Korea's Kospi increased by 1.05% to 1,967.85.
Australia's S&P/ASX 200 closed down by .8.63% to 4,699.800.
India's Sensex closed down by .27%.
Malaysia's Kuala Lumpur Composite Index moved ahead by 1.48 points to 1,528.01.
Indonesia's Jakarta Composite Index increased by 19.48 points.
Shenzhen Composite closed green; up .647% to 1,454.532.
Taiwan's Taiex rose by 20.39 points.
Singapore's Straits Times Index closed up by .40%.
New Zealand's NZX 50 closed up by .16%.
Philippine shares were down by 1.614%.
Shares in Thailand closed down by 0.503%.
