Asian Shares Narrowly Mixed, Stabilizing After Recent Rout


Asian stocks were narrowly mixed, stabilizing after a recent selloff due to economic worries.

Profit at China's industrial companies increased 6% in December from a year earlier, after rising 9.7% in the previous month, the National Bureau of Statistics said.

However, Chinese shares found support after the People's Bank of China (PBOC) injected funds into interbank markets in early trade, soothing fears over a new liquidity crunch.

Australian shares came back from holiday and ended slightly lower, but off the day's worst levels. Stocks found underlying support as National Australia Bank's business confidence survey rose to a two-and-a-half-year high. The index went to a plus-four in December from minus-three in November.

Investors also are cautious before the Federal Open Market Committee kicks off its two-day meeting on Tuesday. Most economists expect another tapering of the bond-buying program.

In ADR news, LG Display ( LPL ), a supplier to Apple ( AAPL ), was under pressure after AAPL forecast sales below analyst estimates.

Sony ( SNE ) is cut to junk status by Moody's, citing concerns about SNE's TV and PC businesses.

The Nikkei ended down 0.17% at 14,980.16, the Hang Seng down 0.07% at 21,960.64 and Shanghai up 0.26% at 2,038.51.

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This article appears in: Investing , Commodities

Referenced Stocks: AAPL , LPL , SNE

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