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Summary
Asian stocks were mixed on Thursday amid concerns over an escalation of violence in Egypt, while markets in Hong Kong and South Korea remained closed in observance of the Chinese Lunar New Year. During late Asian trade, Japans Nikkei 225 Index shed 0.25%, Australias S&P/ASX 200 Index rose 0.50%, while South Korea's Kospi Composite and Hong Kong's Hang Seng Index remained closed. On Wednesday, supporters of Egyptian President Hosni Mubarak clashed with anti-government protesters demanding an immediate end to the 30-year reign of the president, who said earlier in the week that he would not step down before elections due in September. Meanwhile, shares in consumer electronics manufacturer Panasonic tumbled 3.2% after it said that its fourth quarter operating profit fell for the first time in five quarters. Shares in rival Sharp dropped 3.13% after it reported lower-than-expected fourth quarter earnings, as results were weighed by a strong yen. Karachi Stock Exchange witnessed bullish trend today.
