Market Report – Asia Profit-taking

Asian stocks backed off 15-month highs on Wednesday, as profit-taking weighed on regional shares such as tech firms and carmakers.

The world’s top mobile carrier, China Mobile, declined slightly after announcing late Tuesday only mild growth in third quarter profit at $4.2 billion.

Meanwhile, Honda said it would secure other export markets besides North America to keep up Japan production, if the dollar weakened further against the yen.

Rival Nissan said its North American business would be profitable, if the U.S. market saw annual sales of 10.5 million cars.

On the plus side, embattled Japan Airlines gained after a Nikkei newspaper report said the government’s bailout plan would double capital for the carrier to $3.3 billion.

JAL shares hit a record low last Friday, but have climbed back 25 percent on the reports of planned public and private rescue funding

(NTDTV)