Shares in Asia ended mixed Wednesday, following a tepid close on Wall Street overnight, with the Japanese market losing ground after fresh radiation concerns came to the fore.
At close, Japan's Nikkei dropped 1.7% while Hong Kong's Hang Seng slipped 0.1%. India's Sensex and China's Shanghai Composite advanced 1.3% and 1%, respectively. Across the region,Australia's ASX inched up 0.2%.
Japanese shares fell in early trade after the Tokyo government warned against infants in the city consuming tap water as radioactive iodine was noticed.
Crude oil advanced in the commodities market as strikes by allied forces continued against Col Muammar Gaddafi’s strongholds in Libya, where he is facing widespread protests to step down but has refused.
Stocks on the Move
In Tokyo, stocks of companies appearing to have been the worst hit by March 11’s earthquake lost the most. NEC closed 4.6% lower while Fujitsu dropped 6.6%.
Trading firms Sumitomo Corporation, Mitsubishi Corporation and Mitsui & Co added 1.5% to 1.9% as oil prices gained.
In Hong Kong, shares were subdued after selling in China Coal, which fell 9.3% on a weak earnings declaration, pressured the index.
But shares in the mainland rose led by property and metal stocks. Poly Real Estate climbed 3.9% while Jiangxi Copper advanced 1.6%.
Indian stocks were flat in early trade but kept rising steadily and ending near the highest point of the day. Real estate and bank stocks, which have underperformed recently due to inflationary pressures and expectations of monetary-policy tightening, led the gainers.
Realtors DLF and Unitech added 2.8% and 1.4%, respectively, while private lender ICICI Bank surged 3.8%.
In Sydney, energy shares gained on strength in crude prices: Santos rose 2.1% while in financials, National Australia Bank, ANZ Bank and Westpac Banking Group gained 0.2% to 0.5%.