Asian stock markets fluctuated this week

Asian stock markets fluctuated this week as benchmarks Japanese and Australian rose after reports showed economic growth better than expected or employment, while China-related companies fell to policy makers relate to raise interest rates to curb inflation.

Mitsubishi UFJ Financial Group Inc., Japan's biggest bank, traded, rose 4.2 percent. Westpac Banking Corp., the second largest bank in Australia by market value, rose 2.9 percent. Industrial & Commercial Bank of China Ltd., the world's largest bank by market value, fell 2.5 percent in Hong Kong and the Agricultural Bank of China Ltd., the country's third largest lender, fell 5, 1 percent.

"Markets tend to go hot and cold water on expectations that the Chinese authorities to take further steps in its tightening campaign," said Nader Naeimi, a Sydney-based strategist at AMP Capital Investors Ltd., which manages about 93 billion and is a unit of AMP Ltd., Australia's second largest asset manager. "There is pressure on interest rates in China, but do not think there is no reason why you had to want to crush the growth."

The MSCI Asia Pacific Index fell 0.3 percent to 133.09 this week, keeping close up to a month. It jumped 3.5 percent last week after three drops straight week in which he lost by 4.4 percent. The index has risen 22 percent this year low on 25 May.

Japan's Nikkei 225 Stock Average rose 0.3 percent this week. Gross domestic product grew at an annualized rate of 4.5 percent in the three months ended September 30, faster than the 3.9 percent reported last month, the Cabinet Office said on 9 December. The median forecast of 19 economists surveyed by us was for an expansion of 4.1 percent.

'Good management'

"Investors already know that increased capital spending in the July-September period would increase the GDP of Japan, but took it as a good direction once the result was announced," said Masaru Hamasaki, who helps oversee about U.S. $ 17 billion as chief strategist at Toyota Asset Management Co. in Tokyo.

Australia S & P / ASX 200 rose 0.9 percent. The number of people employed 54,600 won as of October, the statistics office said on 9 December. That compares with the median forecast of an increase of 20,000 in a News survey of 26 economists. The unemployment rate fell to 5.2 percent from 5.4 percent a month earlier.

Hong Kong Hang Seng index declined 0.7 percent. Shanghai, China Composite Index fell to less than 0.1 percent. Taiwan's TAIEX index rose 1.1 percent and the Kospi index in South Korea rose 1.5 percent.

Sumco plunges

Mitsubishi UFJ Financial rose 4.2 percent to 419 yen in Tokyo this week. Nippon Steel Corp., the largest Japanese steelmaker, rose 3.9 percent to 293 yen. Westpac increased 2.9 percent to $ 22.57 in Sydney and Commonwealth Bank of Australia gained 2.4 percent to $ 50.59.

Also in Tokyo, Sumco Corp. fell 18 percent to 1,103 yen this week, the largest percentage drop in the MSCI Asia Pacific. The company increased its forecast net loss for the year and Credit Suisse Group AG cut its recommendation on the shares to "underperform" from "neutral."

The MSCI Asia Pacific index has gained nearly 11 percent this year, economic data and corporate earnings helped offset concerns that China's measures to curb property prices and the crisis of Europe by the government debt is hampering global economic recovery. Shares in the indicator value at about 14.7 times estimated earnings on average, compared with 23 times at the beginning of the year.

Chinese banks

developers and Chinese banks fell this week after the statistics office has brought forward the publication of economic data, including inflation, for two days to 11 December. The measure indicates an increase in interest rates may be imminent, said Glenn Maguire, chief Asia economist at Paris-based Societe Generale SA.

After yesterday's close of the stock market in Asia, China's central bank said it would raise the amount of the nation's lenders must keep as reserves by 50 basis points.

Industrial and Commercial Bank of China slumped 2.5 percent to $ 5.83 in Hong Kong in Hong Kong. China Resources Land Ltd., a developer controlled by the state, fell 2.6 percent to $ 13.76 in Hong Kong, while the Agricultural Bank of China fell 5.1 percent to HK $ 4.06. China Vanke Co., the nation's largest publicly traded property developer, fell 4.6 percent to 8.10 yuan in Shenzhen, China.

yesterday by the Chinese government initiated the so-called Central Economic Work Conference, a three-day conclave in Beijing. Participants include heads of key ministries and China's largest state-owned enterprises.