01/09 02:30
Asian Stocks: Japan Mixed as UFJ, Banks Slide; Hong Kong Falls
By Michael Tsang and Yukiko Takai
quote.bloomberg.com
Tokyo, Jan. 9 (Bloomberg) -- Japan's Topix index fell, led by UFJ Holdings Inc., after the bank said it's considering ways of keeping struggling retailer Daiei Inc. in business, dashing hopes lenders will get tough on delinquent borrowers.
Hong Kong's Hang Seng Index fell 2.4 percent, led by China Mobile (Hong Kong) Ltd. on concern the mobile-phone operator may expand into fixed-line business. Korea's Kospi index rose 2.3 percent, led by Hynix Semiconductor Inc. following a report that Micron Technology Inc. made an offer for the chipmaker.
Japan's Topix slipped 6.76, or 0.7 percent, to 1025.01, with banks as a group making up more than a quarter of the broader index's decline. The Nikkei 225 stock average added 0.2 percent to 10,721.21.
``Japanese banks just can't seem to say `no' to their financially weak borrowers, but that's the attitude that investors want them to change,'' said Shigeharu Shiraishi, managing director at SG Yamaichi Asset Management Co., with $22 billion in investments under management.
Taiwan's TWSE Index rose 1 percent to its highest level in nine and-a-half months, led by Quanta Computer Inc., on a report that Apple Computer Inc. has ordered more computers.
Japan's UFJ, the sixth-largest lender which owns two of Daiei's four biggest creditor banks, said Daiei will ``continuously'' discuss measures to help the retailer get out from under 2.3 trillion yen ($17 billion) of group debt, including loan waivers and debt-for-equity swaps. |
