Asian stocks Market Overview July 18 2011

Indonesia stock info - Asian stocks Market Overview July 18 2011 ; Asian stocks ended mixed Friday as caution over another ratings agency warning on U.S. government debt offset optimism on solid U.S. corporate earnings. BHP Billiton shares fell in Sydney after it announced a $15 billion-plus deal to buy U.S. shale gas producer Petrohawk Energy. Chinese property developers tumbled, pulling Hong Kong shares lower and capping gains in Shanghai after Beijing broadened restrictions on home purchases to include some second and third-tier cities.

Japan's Nikkei Stock Average rose 0.4% to 9974.47, China's Shanghai Composite gained 0.4% to 2820.17, South Korea's Kospi added 0.7% to 2145.20 and Taiwan's Taiex rallied 1.1% to 8574.91. On the downside, Hong Kong's Hang Seng Index declined 0.3% to 21875.38.

The Bombay Stock Exchange's Sensitive Index fell 0.3% to 18,561.92, ending the week 1.6% lower after three consecutive weeks of gains. The region's shares were bolstered by good quarterly results from Google and J.P. Morgan Chase, but U.S. debt fears kept gains in check. Standard & Poor's Ratings Services Thursday put U.S. sovereign ratings on formal credit watch, saying there was.

Traders were also cautious ahead of the results of the second round of European bank stress tests, due Friday after local markets close.

In Tokyo, some exporters were higher, getting a fillip as the dollar mostly stayed above Y79. Canon rose 0.9%, and Sony added 0.7%.

Internet firms gained, with Yahoo Japan up 1.8%, after shares in Google surged in after-hours trading after a better than expected earnings report. Trend Micro added 0.8%. But Chinese property stocks suffered deep losses in Hong Kong, where China Overseas Land & Investment shed 4.9% and China Resources Land lost 2.9%. In Shanghai, Poly Real Estate Group was down 2.8% and Gemdale fell 1.9%.

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