Market Report – Asian Markets Mixed

In today’s Market Report… most Asian stock markets were lower today, keeping a wary eye on volatile Chinese shares. Also currency traders went on the defensive after a wild seesaw week.

Japan’s Nikkei slipped to a 3-week-low, with automakers like Nissan the biggest losers.

The Shanghai stock market rose, led by banks after strong earnings reports.

Shares in Fujitsu edged higher after Japan’s biggest IT services firm nearly quadrupled its annual net profit forecast. It came after it unloaded shares in industrial robot maker Fanuc [fə·nūk‘] for $945 million.

And Taiwanese media report that China Mobile, the world’s largest mobile carrier, will develop smartphones with Taiwan’s HTC to compete with Apple’s iPhone. But shares of China Mobile dropped to a three-week low after reporting a disappointing result for the second quarter.

(NTDTV)