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Market Update

Asian Markets End Lower

Asian markets ended lower Tuesday after a lackluster session.

The Nikkei ended down 0.7%. The Shanghai Composite slipped 0.1% while the Hang Seng closed flat. The Sensex declined 0.6% while the All Ordinaries edged up 0.1%.

Data earlier today showed Japan’s corporate services price index rose less-than-expected last month to a seasonally adjusted annual rate of 0.8% from 0.7% in September.

The yen strengthened after the Bank of Japan minutes showed the board kept the bank’s policy target unchanged by a unanimous vote.

Elsewhere in the region, data showed industrial production in Singapore fell more than expected in October.

Stocks on the Move

Exporters that had gained in the previous session were on the losing side. Panasonic ended half a percent lower while Sony gave up 1.8%. Olympus fell 0.6%.

Fujifilm Holdings surged 4.3% on a Nikkei newspaper report the company will create cancer treatments jointly with one of the world’s leading cancer hospitals, MD Anderson Cancer Center in the U.S.

Sinopec extended losses in Hong Kong, down a further 2.6% after reports seven of the company’s employees had been detained by authorities following the pipeline blast that killed about 55 people last week.

Chow Tai Fook Jewellery Group closed 0.2% lower ahead of its results announcement. After the close of market hours, the company reported first-half profit that beat analyst estimates.

Stocks in Mumbai were lower after strong gains Monday. The top loser on the Sensex was ITC, down 1.6%, followed by Tata Motors, down 1.4%, and Tat Steel, down 1.3%.

BHEL surged 3.3%.

BlueScope Steel fell 3.8% in Sydney. Gold digger Newcrest Mining lost 1.9% while index leader BHP Billiton edged down 0.2%.

Banks were all higher with CBA and WBC up 0.7% and 0.8% each, respectively.