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Asia mildly affected by US consumer confidence
- By Katrina V. Dayrit
- Published 02/18/2008
- Economic News
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Katrina V. Dayrit
View all news stories by Katrina V. Dayrit
Asian stocks traded at levels near to Friday's close, with investor sentiment not too affected by the pessimistic US consumer confidence data that pushed down Wall Street last week. Tokyo’s Nikkei 225 stock average opened up 0.8% 13,737.00 in early afternoon trading, while the broader Topix was up 0.5% at 1,341.59. The yen recently traded at 107.80. According to reports, Toshiba contributed to the gains, increasing 5.6% to Y827, as investors cheered news that the consumer electronics company was nearly ready to admit defeat and exit the HD DVD business. Sony, which backs the rival Blu-ray format, added 1.4%to Y4,930.