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Asian Markets End Mixed, Tokyo and Hong Kong Post Gains

Strategic Insights

— 2 min read

Asian markets ended on a mixed note, with Tokyo and Hong Kong bucking the trend to post significant gains, following the record close of the Nasdaq. Japan's blue chip Nikkei 225 index reached its highest level since August 26, 1997, closing at 18,822.12, while Hong Kong's Hang Seng index soared 1.4 percent, driven by gains in China Telecom and Cable & Wireless HKT. Meanwhile, other markets in the region, such as Sydney, Seoul, Bangkok, Jakarta, and Singapore, closed lower as traders took profits.

Key Takeaways:

  • The Nikkei 225 index in Japan closed at 18,822.12, its highest level since August 26, 1997, after gaining 251.28 points.
  • Hong Kong's Hang Seng index rose 1.4 percent, with China Telecom and Cable & Wireless HKT leading the gains.
  • AT&T was rated highest in five out of eight categories in a survey by the Yankee Group, including professionalism and courtesy of employees.
  • Sprint was rated highest in three categories, including ease of understanding bills, quality of transmission, and value for money.
  • Sprint and AT&T were neck and neck in several categories, with AT&T having a slight edge.
  • MCI did not rank first in any of the eight categories surveyed.
  • The Occupational Safety and Health Administration (OSHA) is requiring employers to address workplace ergonomic conditions, including repetitive stress injuries and heavy lifting.
  • Companies will be required to provide training to employees on how to identify potential injuries and provide necessary equipment or modify workstations to minimize the risk of injury.
  • Vodafone AirTouch PLC's bid for Mannesmann AG is ongoing, with the company's chief executive, Chris Gent, meeting with German officials to address concerns.
  • Mannesmann is considering the offer, with Chairman Klaus Esser expressing concerns about the structure of the deal.

Statistics:

  • The Nikkei 225 index closed at 18,822.12, a gain of 251.28 points.
  • The Hang Seng index in Hong Kong rose 1.4 percent to close at 15,285.03.
  • 2,200 U.S. households were surveyed by the Yankee Group to rate AT&T, Sprint, and MCI.
  • AT&T scored highest in five out of eight categories in the Yankee Group survey.
  • Sprint scored highest in three out of eight categories.
  • MCI did not rank first in any of the eight categories.
  • OSHA is implementing regulations to address workplace ergonomic conditions affecting 30 million workers.
  • An estimated 855 million shares were traded in Tokyo.
  • Vodafone's bid for Mannesmann AG is worth $127.7 billion.

Sources:

  • "Asian markets end mixed Monday" - COMTEX (http://www.comtexnews.com)
  • "Nikkei 225 index closes at 18,822.12" - COMTEX (http://www.comtexnews.com)
  • "Yankee Group survey ranks AT&T highest in five categories" - COMTEX (http://www.comtexnews.com)
  • "OSHA to tackle workplace ergonomic conditions" - COMTEX (http://www.comtexnews.com)
  • "Vodafone's bid for Mannesmann AG continues" - COMTEX (http://www.comtexnews.com)
  • Wall Street Journal's European edition: Mannesmann Chairman Klaus Esser interview.

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