Shares in Tokyo and Hong Kong managed to stay in the blue despite weak US company results and as trade data from Japan showed its territorial dispute with China was hitting exports.

Japanese exports to China slumped 10.3% in September from the year before, worse than the 5.8% decrease in August and the 9.9% decline predicted by analysts. The trade deficit widened to ¥588.6bn, higher than the ¥547.9bn expected by most analysts. Imports rose by a bigger than expected 4.1%.

The benchmark Nikkei 225 index closed up 8 points at 9,010 in Tokyo while the Hang Seng added 145 points at 21,697 in Hong Kong.

Stock markets in the rest of Asia were mostly lower on Monday after a string of disappointing trading update from some of North America's largest corporations.

Microsoft, General Electric and fast-food chain McDonald's all reported weaker than expected earnings, sparking fears about future growth.

otherwise real estate did well in Hong Kong after the local monetary authority took steps on Friday to weaken the Hong Kong dollar to keep it in line with the US dollar.

Shares of Sun Hung Kai Properties gained 1% and Henderson Land Development captured a 2% increase.

The weaker yen boosted exporters such as Sharp which bounced 7% following its recent weakness. Pioneer rallied 2.1% while Mazda Motor cruised 1% higher.

However shares of industrial robot maker Fanuc fell 2% after it was downgraded to "neutral" from "overweight" by JP Morgan. Its target price was reduced to by over 20%, as the broker cited concern about weak demand for one of its key drilling machines.

Elsewhere shares of Komatsu fell 2.3% while Hitachi Construction Machinery dropped 2% after US peer Caterpillar issued a weak earnings update.



CJ

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