Asian markets indecisive ahead of US data
Asian shares are struggling to maintain a minor rally as an indecisive performance by the Japanese market drove further demand for safety in the yen and top-rated bonds.
Should the US produce poor payrolls on Friday, Asian markets could suffer further as pessimism amongst investors rises.
After a bumpy ride, the Nikkei has risen by 1.14 per cent to 14,168. The index has taken a hit of 14 per cent since the beginning of the year following last year's 50 per cent boost.
The stuttering performance was especially disappointing in the wake of strong corporate earnings.
Japan's largest consumer-electronics company Panasonic Corp, enjoyed a rise of 21 per cent after exceeding analysts expectations, posting a tripling of quarterly earnings. Car company Toyota Motor Corp,rose five per cent after forecasting record annual profits.
Japan’s Topix index climbed two per cent today, while South Korea’s Kospi index rose 0.2 per cent.