By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) ? Japanese stocks jumped on Monday to catch up with broad gains in global equity markets after Friday?s holiday, while Chinese shares fluctuated between gains and losses in choppy year-end trading.
2011: Year in review
2011 was a year of conflict, a year of tragedy, and for some a year of hope. Take a look back at the most important news and events of the year.
Japan?s Nikkei Stock Average /quotes/zigman/5986735 JP:NIK +1.23% climbed 1.1% in morning-session trade, aided by Friday?s strong finish on Wall Street and upbeat U.S. economic data.
?It appears concerns the U.S. housing market might deteriorate even further have receded and that a gradual recovery is becoming more likely,? Daiwa Research strategist Kazuhiro Miyake wrote in a note to clients.
Miyake said the stock market performance hinges on yen movements, and that while the yen might continue to appreciate over the long term, it could fall against the U.S. dollar in 2012 ?due to possible recovery in the U.S. economy.?
China?s Shanghai Composite /quotes/zigman/1859015 CN:000001 -0.28% ?was down 0.1% in choppy trading after moving in both directions. The index is still down more than 21% so far this year, including nearly 5.5% in losses suffered this month.
South Korea?s Kospi /quotes/zigman/1652118 KR:0100 -0.37% ?traded 0.6% lower, and Taiwan?s Taiex gave up 0.3%, reversing early gains.
Stock markets in Hong Kong, Australia and Singapore were among those closed for holidays.
Shares of machinery manufacturers and other exporters led the advance in Tokyo, with Fanuc Corp. /quotes/zigman/527618 FANUY +0.61% /quotes/zigman/192770 JP:6954 +2.88% ?rising 2.9%, and Hitachi Construction Machinery Co. /quotes/zigman/198746 JP:6305 +1.40% /quotes/zigman/529196 HTCMY -3.16% ?gaining 1.9%.
The advance came after U.S. stocks extended their recent gains Friday, after Congress approved a tax-cut extension and as data showed an increase in November durable-goods orders. See report on U.S. durable-goods data.
Chinese financial and airline stocks were among the losers on concerns about a weakening economic momentum. Shares of China Construction Bank Corp. /quotes/zigman/1876229 CN:601939 -1.54% /quotes/zigman/529424 CICHY -1.54% ?fell 0.9%, and Citic Securities Co. /quotes/zigman/1868615 CN:600030 -1.42% dropped 1.5%, while China Southern Airlines Co. /quotes/zigman/186291/quotes/nls/znh ZNH +1.28% /quotes/zigman/1869073 CN:600029 -0.63% ?shed 0.6%.
Some resource sector stocks advanced after recent losses, with Baoshan Iron & Steel Co. /quotes/zigman/1866975 CN:600019 +0.62% ?rising 1%, while Minmetals Development Co. /quotes/zigman/1863450 CN:600058 +0.64% gained 1.3%.
Shipbuilidng and financial stocks led the decline in Seoul, with Shinhan Financial Group Co. /quotes/zigman/331649/quotes/nls/shg SHG +0.69% ?dropping 1.6% and Daewoo Shipbuilding & Marine Engineering Co. /quotes/zigman/324630 DWOTF 0.00% ?falling 3.7%.
Daewoo Shipbuilding said Monday its new-orders target will be about $11 billion for the coming year after pulling in some $14.8 billion in orders this year. See report on Daewoo Shipbuilding targets for 2012.
/quotes/zigman/5986735
Volume: 0.00
Dec. 26, 2011 12:34p
/quotes/zigman/1859015 Volume: 23.84M
Dec. 26, 2011 11:30a
/quotes/zigman/1652118 Volume: 265.76M
Dec. 26, 2011 12:34p
/quotes/zigman/527618 Volume: 92,928
Dec. 23, 2011 3:59p
/quotes/zigman/192770 ? 11,780.00
+330.00 +2.88%
Volume: 512,600
Dec. 26, 2011 12:34p
/quotes/zigman/198746 ? 1,306.00
+18.00 +1.40%
Volume: 417,500
Dec. 26, 2011 12:34p
/quotes/zigman/529196 Volume: 700.00
Dec. 23, 2011 2:29p
/quotes/zigman/1876229 Volume: 15.81M
Dec. 26, 2011 11:39a
/quotes/zigman/529424 Volume: 107,087
Dec. 23, 2011 3:55p
/quotes/zigman/1868615 Volume: 21.30M
Dec. 26, 2011 11:39a
/quotes/zigman/186291/quotes/nls/znh Volume: 36,588
Dec. 23, 2011 4:04p
/quotes/zigman/1869073 Volume: 12.30M
Dec. 26, 2011 11:39a
/quotes/zigman/1866975 Volume: 20.60M
Dec. 26, 2011 11:39a
/quotes/zigman/1863450 Volume: 6.72M
Dec. 26, 2011 11:39a
/quotes/zigman/331649/quotes/nls/shg Volume: 28,999
Dec. 23, 2011 4:01p
Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau.
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