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Market Wrap: Trading Lackluster During Week
Heda Bayron

Stock trading in Asia was lackluster(缺乏活了的)Friday, with some markets closed for a long Christmas break.

Tokyo's Nikkei(日经指数)rose slightly Friday to 10,417. The index(指数)is up 1.33 percent from last week's close.

But automakers saw some declines because of a rising yen(日元). A stronger currency would make Japanese exports more expensive overseas, and could lead to poorer revenues(税收). The yen was trading at just a little more than 107 to the dollar as of mid-afternoon in Tokyo.

Taiwan's stock index also closed marginally higher at 5,857. It is up 1.75 percent from last week.

In South Korea, financial woes(灾难) at the country's largest credit card company dragged the KOSPI(韩国综合指数)down four percent Friday. LG Card plunged 15 percent Friday, following news that the company's creditors proposed taking 60 percent of the firm's capital to pay millions of dollars in loans.

Kang Sung-mo is a strategist at Dongwon Securities in Seoul "Our market can endure the difficulty of LG Card, but the financial instability due to that would be perceived as not so good."

The KOSPI stands at 788, nearly three percent lower from a week ago.

Stock markets in Hong Kong, the Philippines, Indonesia and Australia were closed, and will reopen Monday. Hong Kong's Hang Seng closed Wednesday at 12,456, up half a percent from last Friday's close.

 
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