MW: Asian markets end mixed; Shanghai up, Tokyo down
By V. Phani Kumar, Shri Navaratnam and Wei-Zhe Tan
HONG KONG (MarketWatch) -- Asian shares ended mixed Thursday as Federal Reserve Chairman Ben Bernanke's downbeat assessment of the U.S. economic outlook spooked investors, sending Japanese stocks lower for a fifth straight session.
Shanghai-listed stocks climbed for a fourth successive time as property developers surged on hopes Beijing won't tighten policies in the near-term, with a reported delay in implementation of a tax on the industry also aiding sentiment.
The rally also sparked gains in Hong Kong-listed Chinese shares.
The day's trading began on weak footing. Wall Street tumbled overnight after Ben Bernanke, in a testimony to the Congress, said the economic outlook was "unusually uncertain," but indicated that no moves to bolster the recovery were imminent. Read full story.
By V. Phani Kumar, Shri Navaratnam and Wei-Zhe Tan
HONG KONG (MarketWatch) -- Asian shares ended mixed Thursday as Federal Reserve Chairman Ben Bernanke's downbeat assessment of the U.S. economic outlook spooked investors, sending Japanese stocks lower for a fifth straight session.
Shanghai-listed stocks climbed for a fourth successive time as property developers surged on hopes Beijing won't tighten policies in the near-term, with a reported delay in implementation of a tax on the industry also aiding sentiment.
The rally also sparked gains in Hong Kong-listed Chinese shares.
The day's trading began on weak footing. Wall Street tumbled overnight after Ben Bernanke, in a testimony to the Congress, said the economic outlook was "unusually uncertain," but indicated that no moves to bolster the recovery were imminent. Read full story.