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Summary
Asian stock markets were mixed Wednesday, but shares in Seoul got a lift from news of faster-than-expected economic growth. South Korea's Kospi index advanced 0.9%, Japan's Nikkei Stock Average was down 0.4%, China's Shanghai Composite Index gained 0.5% and Hong Kong's Hang Seng Index was up 0.4%. Markets in Australia and India were shut for holidays. The Seoul market was bolstered by news of solid gross domestic product growth. GDP in the fourth quarter of 2010 rose a seasonally-adjusted 0.5% from the previous three months, slowing from the third quarter's 0.7% expansion, but topped expectations for a 0.3% rise. The outcome put full-year growth at 6.1%, the highest in eight years. Gold prices hit their lowest levels since late October, touching $1,322.75 per troy ounce. The yellow metal's spot price was recently at $1,334 per troy ounce, up $1.20 from its New York close Tuesday. Guizhou Panjiang Refined Coal was up 3.7% and Jizhong Energy Resources rose 3.7%. Datang International Power climbed 4.6% in Shanghai and 3.6% in Hong Kong after the company said it expects its 2010 net profit to rise by more than 50% on-year.
