Market Report – Japan Up, China Down

Japan’s Nikkei neared a 10-month high, buoyed by gains in Honda and other carmakers, while stocks in Shanghai declined on speculation China may take steps to tighten credit policy.

Most Japanese and regional investors shook off U.S. economic and market jitters, focusing on firms like Japan’s No.2 automaker after profitable earnings results.

The Nikkei newspaper reported that Honda will import motorcycles from Thailand, also boosting interest.

In Australia, surprisingly strong jobs numbers lifted economic hopes and bank shares, with expectations that the Reserve Bank may also tighten.

That possibility in China led Shanghai’s benchmark lower, though, while Hong Kong stocks barely changed.

And Cathay Pacific Airways, meanwhile, extended losses after the carrier sounded a cautious note on climbing fuel prices.

(NTDTV)