Commodity stocks rose after a rally in metal prices yesterday. Copper futures gained 1.6% and gold advanced 1.8%. Mitsubishi Corp edged up 3.20%.

Crude oil prices also increased 0.4% to $101.22 per barrel yesterday. Inpex gained 1.87% on the news.

Citizen Holdings led decliners in the Nikkei 225 index shares with a drop of 6.75% followed by losses in Chuo Mitsui Trust of 6.10%, in Nisshinbo Industries of 5.778%, in Shionogi & Co. of 5.10%, and Mizuho Financial Holdings of 4.82%.

Other financial stocks fell as well. Mitsubishi UFJ Financial Group declined 4.82% and Mizuho Trust & Banking slid 4.46%.

Exports also declined on weakening consumer sentiment in the U.S. Canon slipped 2.93% and Sony dropped 0.70%.

Hino Motors fell 4.18% after the company reported yesterday that operating profit will rise 25% to 46 billion yen for the year ending March 31 from 36.7 billion yen a year earlier below market expectations of 46 billion yen.

Company news

The Nikkei news reported today that All Nippon Airways Co Ltd will set up a low-cost Asian airline as early as the fiscal year starting April and open office in Hong Kong. The online news service said the airline might establish a joint venture or acquire another firm.

Asian Markets Index review

In Tokyo Nikkei 225 Index closed lower 38.59 or 0.30% to 12,706.63, in Hong Kong Hang Seng index increased 152.49 or 0.68% closed to 22,617.01. Australia ASX 200 index increased 63.00 or 1.18% to close 5,381.40. In Malaysia KL Composite index increased 15.47 or 1.26% closed to 1,245.42.

In South Korea Kospi Index increased 4.74 or 0.28% to close at 1,679.67, in Thailand SET index closed lower 2.74 or 0.33% to 817.57 and Indonesia JSE Index edged increased 21.02 or 0.87% to 2,440.64. Sensex index in India decreased 130.66 or 0.81% to 16,086.83.