[May 21, 2013] Tokyo up while Sydney, Hong Kong fall Tweet (Baystreet Foreign Markets Wrap (Canada) Via Acquire Media NewsEdge) Australian stocks declined, and Hong Kong equities snapped a three-day winning run on Tuesday, weighed by overnight losses on Wall Street and uncertainty over U.S. monetary policy. The Nikkei 225 gained 20.21 points, or 0.1%, to 15,381.02, its highest finish since December 2007. The benchmark is now up 11% so far in May, and almost 48% higher from the level at last year's end. In Hong Kong, the Hang Seng Index sank 126.66 points, or 0.5%, to 23,366.37 Industrial & Commercial Bank of China Ltd. fell 2.1% to weigh on the Hong Kong market, after Goldman Sachs sold its remaining stake in the giant Chinese bank for about $1.12 billion U.S. Among other notable Hong Kong losers, China Construction Bank Corp. fell 1.4%, and Internet services major Tencent Holdings Ltd. fell 1.8%. Shares of banks and other high divided-yielding companies were under pressure in Sydney, with Australia & New Zealand Banking Group off 2%, Westpac Banking Corp. retreating 1%, and gaming firm Tatts Group Ltd. losing 1.2%. In Tokyo, Softbank Corp. fell 3.8% after the Nikkei newspaper reported the wireless carrier was planning to set a record with a 400 billion yen ($3.91-billion U.S.) retail bond issuance. However, Toshiba Corp. gained 0.9% on another Nikkei report that the conglomerate plans to sell a semiconductor assembly plant in China to a Taiwanese firm. Several exporters came off the day's lows as the yen weakened after Japan's Economy Minister Akira Amari said he hopes the yen's foreign-exchange rates will settle at a level that corresponds with the relative strength of the domestic economy. Sony Corp. inched up 0.1%, and Renesas Electronics Corp. added 1.6%, with each rebounding from initial losses. Aiding broader market gains, shares of Subaru-brand vehicle maker Fuji Heavy Industries Ltd. rose 3.8% and Fujitsu Ltd. climbed 7.9%. In other markets; In Shanghai, the CSI 300 Index moved higher 5.25 points, or 0.2%, to 2,614.85 Singapore's Straits Times Index fell 10.33 points, or 0.3%, to 3,443.90 In Korea, the Kospi Index docked 1.34 points, or 0.1%, to 1,981.09 Taiwan's Taiex Index added six points, or 0.1%, to 8,383.05 The New Zealand Exchange 50 Gross Index slid 7.82 points, or 0.2%, to 4,590/84 Australia's S&P/ASX slipped 28.98 points, or 0.6%, to 5,180.06 © 1998 - 2013 Baystreet.ca Media Corp. All rights reserved. [ Back To TMCnet.com's Homepage ]