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Asia petchem shares close mixed

November 24/2010

(ICIS) -- Shares of petrochemical companies in Asia closed mixed on Wednesday, mirroring the regional bourses, with some nervousness in early trade from heightened geopolitical tensions between North and South Koreas.


Most regional markets were shaken by news of North Koreas military aggression on South Koreas Yeonpyaong island. In Seoul, SK Energy inched up 0.31% and Honam Petrochemical gained 1.05%, while LG Chemical fell 0.77% and Hanwha Chemical declined 1.36% as the benchmark KOSPI Composite Index slipped 0.15% to close at 1,925.98 points.


Japanese markets failed to immediately react on Tuesdays skirmish between the North and South Koreas as the country was closed for a public holiday.


Meanwhile, stock market indices in southeast Asia appeared to have shrugged off the issue, with majority of investors convinced that the tensions would not escalate into an all-out war, analysts said.


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