Many of the major Asian markets fell Thursday, after data showed Chinese manufacturing activity is likely to have slowed sharply this month.
Even so, by the close, in Japan, the Nikkei 225 Index had regained 40.59 points, or 0.4%, to 10,127.10
In Hong Kong, the Hang Seng Index picked up 44.93 points, or 0.2%, to 20,901.60
Among Hong Kong-listed energy stocks, Cnooc Ltd. gave up 1.1%, and PetroChina Co. lost 1.1%.
Australian resource shares, normally sensitive to Chinese growth prospects, were mixed, with BHP Billiton Ltd. up 0.3% but Rio Tinto Ltd. losing 1%.
However, the Australian dollar fell significantly on the Chinese data, dropping to $1.0393 from $1.475 U.S. ahead of the release.
Financial firms traded mixed across the region. Hong Kong-listed shares of Bank of China Ltd. lost 0.3%, while Agricultural Bank of China Ltd. traded down 1.1% ahead of its earnings report due later in the day, failing to get a lift from news that some of its branches would see a reduction to their reserve requirements.
Over in Tokyo, shares in Sumitomo Mitsui Trust Holdings Inc. rose 2.2% despite reports Japanese regulators were proposing their first-ever insider-trading fine for a major financial firm -- a unit of the top trust bank. The penalty is expected to be about $600 U.S.
Over in Australia, gains for financial firms helped support the broader market. National Australia Bank Ltd. climbed 1.2%, and Australia & New Zealand Banking Group Ltd. put on 1%, while investment bank Macquarie Group Ltd. surged 3%.
Also in Sydney, Sigma Pharmaceuticals Ltd. jumped 5.7% after the firm swung to a profit in 2011, following two years of losses.
The yen strengthened Thursday after Japan delivered a surprise trade surplus on Thursday, with the dollar buying ¥82.90, compared with ¥83.47 in North American trade late Wednesday.
But the stronger yen didn’t dampen gains for some major exporters, with Fujitsu Ltd. up 2.5%, Citizen Holdings Co. up 1.6% and Nikon Corp. up 1.1%.
Car makers were mixed with Suzuki Motor Corp. up 1.3% Nissan Motor Co. rising 1.5%, while Mazda Motor Corp. fell 0.7%.
In Seoul, losses for key shipbuilding sector firms limited broader gains, with Hyundai Mipo Dockyard Co. down 5.2% and Daewoo Shipbuilding & Marine Engineering Co. off by 4.1%.
In Hong Kong, shares contract electronics manufacturer Foxconn International Holdings Ltd. rose 4% ahead of earning results, due later Thursday.
CHINA
China manufacturing activity fell sharply in March, as the rate of booking new orders fell to a four-month low at factories, according to an initial reading of an HSBC survey released Thursday
The Shanghai CSI 300 sifted off 4.05 points, or 0.2%, to 2,583.75
With headline HSBC survey index at 48.1, one expert said that "we’re still within a couple of points of growth [above the 50 level]. At the moment, the market is very prone to taking knee-jerk reactions, and later on it will take a more considered view and realize that it’s not that bad."
The data hit Chinese resource firms, with Aluminum Corp. of China Ltd., also known as Chalco, losing 0.8% in Hong Kong, and Angang Steel Co. down 2.1%.
In other markets;
Korea’s Kospi Index fell 1.11 points, or 0.1%, to 2,026.12
The Taiex index in Taiwan added 78 points, or 1%, to 8,059.94
Singapore’s Straits Times Index lost 26.38 points, or 0.9%, to 2,979.25
New Zealand’s NZX 50 Index dropped 7.30 points, or 0.2%, to 3,474.65
Australia’s S&P/ASX 200 Index gained 19.43 points, or 0.5%, to 4,273.68
