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12.05.2014 09:37

Asian Stocks close: stocks traded mixed

Asian stock indices traded mixed. The Chinese stock markets has shown the fastest growth in seven weeks after the State Council announced that it will deepen reforms of the nation’s capital markets.

The Japanese stock index Nikkei 225 declined due to the weaker-than-expected Japanese economic data. Japan’s Ministry of Finance has released the current account figures. The current account surplus decreased to 116.4 billion yen in March, 612.7 billion yen in February. Analysts had expected a surplus of 347.7 billion yen.

Indexes on the close:

Nikkei 225                     14,149.52           -50.07        -0.35%

Hang Seng                     22,261.61         +398.62      +1.82%

Shanghai Composite        2,052.87          +41.74       +2.08%

Konica Minolta shares dropped 11% after missing analyst forecast for its full-year earnings.

Sumitomo Electric Industries decreased 6.5% after the company forecast net profit that missed estimates.

Olympus shares climbed 4.8% after announcing an almost 70% increase in profit for the last fiscal year.

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