Asia’s stock markets increased their gains Friday, with Japan’s main stock index rising to its fresh 2012 high as the yen dropped to levels not seen since 2010.
Japan’s Nikkei Stock Average added 0.8%, South Korea’s Kospienhanced by 0.3%, Taiwan’s Taiexrose 0.5%, and Singapore’s Straits Times Index exchanged just a little higher.[article_detail_ad_1]
Australia’s S&P/ASX 200 increased 0.6% as commodities prices advanced, whereas in China, Hong Kong’s Hang Seng Index increased 0.1% higher, and the Shanghai Composite Index gained 0.5% to stay in positive zone for the year.
Toshiba Corp(TYO:6502) added 4.4% as The Wall Street Journal mentoned the company’s president as saying it was in discussions to divest up to 16% of its Westinghouse Electric Co. nuclear-power division.
Regardless of the overall Japanese market gains, utilities exchanged lower, with Tokyo Electric Power Co Incorporated(TYO:9501) declining 6.8% after it announced Thursday that it would pursue addition financial assistance from the government to pay compensation for previous year’s Fukushima Daiichi nuclear catastrophe, in relation to a Kyodo News report.
Mining industry contractor Thiess intends to trim 95 jobs at one of Xstrata PLC(LON:XTA)’s coal mines in Australia by the finish of coming month, the most recent such move as the industry struggles with lesser prices and high charges.
A spokesperson for Thiess, a division of engineering company Leighton Holdings Ltd., stated that the firm would seek to reorganize a number of its workers at the open-cut Collinsville mine in northern Queensland State to additional projects, but a decrease in the workforce was mandatorybecause of the downturn in the coal market.
Australia’s main mining sector exchanged mostly higher, as BHP Billiton Limited(ASX:BHP)(NYSE:BHP) added 1.1%, Rio Tinto Limited(ASX:RIO)(NYSE:RIO)added 1.7%, and Fortescue Metals Group Limited(ASX:FMG)rose 2.4%.