Investor wariness over EU summit pulls stock down

Nikkei: 8,678.89 (–3.26) Hang Seng: 18,025.72 (+42.62) Shanghai Comp: 2,317.28 (–14

Nikkei: 8,678.89 (–3.26) Hang Seng: 18,025.72 (+42.62) Shanghai Comp: 2,317.28 (–14.09)ASIAN STOCKS swung between gains and losses yesterday, on speculation European policy makers will struggle to reach a resolution on how to fight the region's debt crisis.

“It looks like European leaders are making progress, but there’s still a long way to go,” said Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management. “The market remains very vulnerable.”

Fanuc gained 2.4 per cent to ¥12,170. Mitsubishi Electric, which makes 25 per cent of revenue from factory automation equipment, rose 2.7 per cent to ¥712.

Samsung Electronics, the world’s second-biggest handset maker, rose 1.1 per cent to 917,000 won.

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Hynix Semiconductor climbed 10 per cent to 23,200 won in Seoul after research company IHS iSuppli said Apple used the company’s NAND-flash chips in the iPhone for the first time.

LG Display, a maker of liquid-crystal displays, jumped 7.8 per cent to 24,250 won

Mitsubishi slid 2.5 per cent to ¥1,478, while Itochu lost 1.8 per cent to ¥731. – (Bloomberg)