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Nikkei snaps winning streak
 Source: Mediascrape
Asian stocks mixed in thin trade with Japanese shares among the worst performers. MOREINFO: Resource shares and tech stocks lead gainers but Japan's benchmark Nikkei looks set to be the worst performing major stock market in 2007. SCRIPT: Asia stocks were mixed in a holiday-thin trading session on Thursday. Resource shares were among the top performers as world oil prices held near 96 dollars a barrel on the back of a 3-day rally in crude prices. Tech stocks also gained on bright earnings prospects. But Japanese shares snapped a four day winning streak on the next to last Tokyo trading day of the year. The benchmark Nikkei fell 0.6 percent (15,565) with the index looking set to be the worst performing major stock market in 2007. Major motor stocks such as Honda fell after an industry group said November auto output rose by a slim 0.9 percent in the first 11 months of the year. Major Japan shares have been hurt this year by the fragile state of the world's number 2 economy. China's largest mobile firm China Mobile also lost ground But other China telecom players jumped after China's cabinet approved a plan on new-generation wireless technology. Australian gold miner Rio Tinto was a star gainer on continued expectations its larger sector peer will continue a hostile approach to take the firm over. Rio Tinto is also being boosted by speculation that China is mounting efforts to take a stake in the commodities firm. Beijing has been keen to buy up global resources due to the country's rapid industrialisation. Tara Joseph-Hui, Reuters, Hong Kong
Rating: (1 ratings) Views: 16 Added: Dec 27, 2007
Category: Business
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