A slight slip in the price of oil allowed Japanese investors to focus attention on positive employment figures out of the U.S., boosting the Nikkei 225 Index by 0.9%. In Hong Kong the Hang Seng also Index added 0.3%, while the Shanghai Composite Index edged down 0.4%.
Asian investors brushed aside worries over continuously rising Chinese inflation today, focusing instead on bargain shopping. Energy companies were a major attraction as oil prices surged. Hong Kong's Hang Seng Index climbed 1.1% and China's Shanghai Composite Index advanced 0.9%. In Japan the Nikkei 225 Index edged up 0.6%.
Among Wednesday's top online stories for investors: Why did Warren Buffett invest in BYD? How does the market usually fare on a blizzard day? And what I learned from working with Jim Cramer.
In Asia Thursday Hong Kong's Hang Seng Index fell 1.3% and China's Shanghai Composite shed 0.5%, as copper slid for a third day and banks retreated on reports that China has clamped down on loans. In Japan the Nikkei 225 Index inched up 0.1%.
In Asia Tuesday China's Shanghai Composite Index slid 0.3% to 3,042 and Hong Kong's Hang Seng Index dipped 0.1% to 23,601. In Japan the Nikkei 225 Index fell 0.3% to end the day at 9,377.
Profit tumbled 99% at BYD, a Chinese auto company that makes electric cars. Warren Buffett's Berkshire Hathaway holds a 10% stake in the company.
One Chinese company that stands to benefit from China's boom is tiny and little known COGO Group, which provides some of the nuts-and-bolts components and expertise that local manufacturers need to produce top-quality products.
A hot topic on Wall Street last week was who would potentially replace the Oracle of Omaha at Berkshire Hathaway when he leaves. The latest candidate? Li Lu, a relatively unknown fund manager whose portfolio has averaged a 24% annual return.