25 May 2009

Markets mixed on news of Nth Korea nuke test

10:43 pm on 25 May 2009

Markets in New Zealand and Australia fell at the close of trade on Monday, while Japan shook off jitters at news North Korea had conducted a nuclear test.

The New Zealand benchmark index fell 22 points, 0.8%, to close at 2738 on turnover of $62 million.

Telecom rose 14 cents at $2.46, Fletcher Building fell 16c to $6.27 and Contact Energy was down 1c at $5.84.

Fisher & Paykel Appliances has been placed in a trading halt as the whiteware maker finalises plans to raise more capital and strengthen its financial position.

Fisher & Paykel Healthcare was down 3c to $3.07.

The Australian share market was pulled back on Monday by the lift of a ban on covered short selling of financial stocks and news of North Korea's underground test.

Higher prices for base metals and oil boosted some stocks in the resources sector.

The benchmark S&P/ASX200 index fell 23.7 points, or 0.63%, to 3,737.9, while the broader All Ordinaries index lost 20.1 points, or 0.54%, to 3,735.3.

Japanese shares closed up 1.31% as gains among commodity-related shares offset a negative lead from Wall Street and nervousness over the North Korean test.

The benchmark Nikkei-225 index rose 121.19 points to end at 9,347.00. The broader Topix index of all first section shares gained 7.12 points, or 0.81%, to 883.00.

South Korean stocks dropped 2.2%.