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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