Mixed Asian session as European debt issue lingers Hong Kong closes due to typhoon

Asian markets had another mixed trading day today, with the Japanese Nikkei Index managing to recover most of its losses by early afternoon trade. With the Hong Kong markets closed due to typhoon, all the other Asian markets were trading in the red for most of the day.

The Shanghai Composite Index recorded its lowest level in more than a year due to continuing concerns in Europe.

In Australia, the All Ords Index was down 29 points. The overall market was dragged down my mining stocks, which continued to be affected by falling commodity prices. Most of the banking stocks, including the big four banks, did quite well today but were not able to offset the losses from other sectors.

The markets still seem directionless at the moment and there are still a lot of uncertainties that have not been resolved. Investors are not that confident yet. All eyes are still looking to Europe, particularly to Germany as they vote on the Euro rescue fund tonight.

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