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Market Update

Asian Markets Trade Mixed

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Asian markets traded mixed Friday as investors continued to weigh the effects of the Fed’s tapering decision Wednesday to begin winding down stimulus measures.

The Nikkei edged up 0.1%. The Shanghai Composite fell 1.9% while the Hang Seng declined 0.4%. The Sensex gained 1% and the All Ordinaries rose 1.1%.

Earlier Friday, the Bank of Japan kept its own asset-purchase levels and monetary policy unchanged.

Stocks on the Move

Panasonic edged up 0.2% after a Nikkei newspaper report the company planned to close two chip plants in Japan. Panasonic’s partner Fujitsu added 4% even as a brokerage cited a report saying the company is looking for partners for a separate chip-making factory.

Kyocera was down 1.3% while Toshiba gave up about a percent.

Mazda accelerated 3.5% but Nissan reversed 2.4%.

China Everbright fell 2% on its debut after raising $3 billion in Hong Kong’s largest public offering in 2013, and listing successfully on its third attempt. Shares were also weighed by an increase in money-market rates, pushing the cost of borrowing to its highest level since a cash crunch earlier in the year.

ONGC and Wipro were the top gainers on the Sensex, up 2.5% each. Maruti Suzuki was up 2.4% while Hero MotoCorp rose 2.2%. RIL gained 2.1% and HUL was up 2%.

Telstra Corp. was up 1.8% in Sydney after the company agreed to sell its Hong Kong-based mobile business to HKT for $2.4 billion. HKT shares were up 6.7%.

Rouhan Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.