Market Update
Asian markets ended mixed Wednesday with sentiment weighed by lowered global growth forecasts by the Organization for Economic Cooperation and Development.
The Nikkei ended 0.3% lower. The Shanghai Composite gained 0.6% while the Hang Seng edged up 0.2%. The Sensex fell 1.2% and the All Ordinaries fell 0.8%.
Trade data showed Japan's exports increased 18.6% in October from a year earlier, exceeding expectations for a 17.3% rise. The Bank of Japan began its two-day policy board meeting.
Stocks on the Move
Sony fell 1%. The Wall Street Journal reported that an examination of the company's PlayStation 4 videogame console suggested a slim margin on the device. Another report in the New York Times said Sony's entertainment division was seeking aggressively to cut costs.
Pioneer gained 6.7% while Sharp Corp. added 7.6%.
Daiichi Sankyo fell 3.9% after it announced results from a late-stage trial of a blood-thinning treatment.
Chinese companies in Hong Kong continued to gain on the policy reform details outlined last week Friday. China Life Insurance added 0.8% while Ping An Insurance was up 2.2%.
Index heavyweight China Mobile fell 0.6% even as its former vice-president was reportedly sentenced to life in prison for taking bribes.
Top losers in Mumbai were ICICI Bank and Airtel, down 2.8% each, followed by Hindalco, down 2.5%, Hero MotoCorp, down 2.1%, and Bajaj Auto, down 2%.
Maruti Suzuki, Cipla, L&T, HUL, HDFC Bank, SBI, RIL, Sun Pharma, Tata Motors, HDFC, Infosys, Jindal Steel, Dr. Reddy's Lab, and Wipro all ended lower in a range between 1% and 1.9%.
Banks and miners were mostly lower in Sydney. Worleyparsons plunged about 26% after the company warned its full-year underlying net profit could fall as much as 19% below prior guidance.