Asia Stocks Mixed As China Tightening Fears Linger

HONG KONG: Asian stock markets were mixed Friday as investors held out for additional clues to the strength of economic recovery.

Most markets were little changed, a recent pattern that analysts say reflects uncertainty surrounding the U.S. rebound, China’s policies and debt troubles in Europe.

Many investors are awaiting further insight into the state of the U.S. economy. Reports due out Friday on retail sales and consumer sentiment could shed light on the current spending appetites of Americans at a time of high unemployment.

The sideways trade comes after global markets were mostly higher the day before, with gains limited amid wariness after China may start raising interest rates to keep a lid on mounting inflationary pressures. The source of concerns was a report showing inflation in the fast-growing economy jumped last month.

In Japan, Nikkei 225 stock average was up 87.05 points, or 0.8 percent, to 10,752.00.

Elsewhere, Hong Kong’s Hang Seng was off 0.1 percent at 21,211.36 and South Korea’s benchmark was flat at 1,656.74.

Shanghai’s market was also little changed, while Australia inched up 0.1 percent and India rose 0.3 percent.

Oil prices drifted higher as investors mulled whether extending a monthlong rally is justified amid evidence of weak U.S. crude demand. Benchmark crude for April delivery added 8 cents to $82.19 after rising 2 cents overnight.

In currencies, the dollar rose to 90.62 yen from 90.50 yen. The euro was stronger at $1.3694 compare $1.3678.

In the U.S. Friday, the Dow Jones industrial average rose 44.51, or 0.4 percent, to 10,611.84.

The S&P 500 index advanced 4.63, or 0.4 percent, to 1,150.24, above its Jan. 19 close of 1,150.23. The index now stands at its highest level since Oct. 1, 2008.