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Asian Markets Called Mixed To Higher On Monday

4/29/2012 7:03 PM ET

The Asian stock markets are looking at another mixed open on Monday with a touch of upside, thanks to upbeat earnings news and better than expected consumer sentiment in the United States.

Tempering the upside, U.S. GDP increased 2.2 percent in the first quarter compared to 3.0 percent in Q4 - well shy of expectations for a gain of 2.5 percent.

Also, Italy's 10-year borrowing costs increased at an auction on Friday, which increased concerns that the country may seek a bailout.

The major U.S. averages finished higher on Friday as the Dow edged up 23.69 points or 0.2 percent to finish at 13,228.31, while the NASDAQ climbed 18.59 points or 0.6 percent to end at 3,069.20 and the S&P 500 crept up 3.38 points or 0.2 percent to 1,403.36.

The major European markets were mostly higher on Friday. The CAC 40 of France closed higher by 1.14 percent and the DAX of German gained 0.91 percent. The FTSE 100 of the U.K. finished up by 0.39 percent, but the SMI of Switzerland fell by 0.10 percent.

The Asian markets were mostly lower on Friday as Malaysia dropped 0.75 percent, while Taiwan shed 0.54 percent, Japan's Nikkei was down 0.43 percent, Indonesia lost 0.39 percent, China's Shanghai Composite fell 0.35 percent, Hong Kong's Hang Seng eased 0.33 percent and Australia retreated 0.26 percent.

Singapore's Straits Times was flat, while Thailand was up 0.21 percent, New Zealand added 0.31 percent and South Korea's KOSPI collected 0.58 percent. The markets in China and Japan are closed on Monday for holidays.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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