Nikkei: 8,541.93 (–61.77) Hang Seng: 19,348.44 (–159.74) Shanghai Comp: 2,529.76 (+1.05)ASIAN STOCKS slid yesterday, as global investors reflected concerns over whether new governments in Italy and Greece can push through austerity measures to ease the euro zone's debt crisis.
“A further escalation of the European debt crisis is putting at risk the nascent stabilisation of global growth and the associated buoyancy of risky assets outside of Europe,” analysts at Barclays Capital said.
Sumitomo Mitsui Financial rose 1.4 per cent to ¥2,904 after announcing plans to buy back up to ¥50 billion worth of shares.
Investors flooded Olympus with buy orders. The shares were not traded but the orders drove them up by their daily limit of 18.5 per cent to ¥640 notionally. The stock closed up at ¥540.
STX Pan Ocean, South Korea’s biggest bulk carrier, fell 2.7 per cent to Won6,440 after posting a third-quarter loss of $37.4 million.
In Sydney, uranium miner Paladin Energy climbed 3.1 per cent to A$1.66 and uranium explorer Toro Energy surged 10.4 per cent to A$0.09.
Industrial services company Spotless advanced 1.7 per cent to A$2.39. – (Copyright The Financial Times Limited 2011)
