Asian stocks showed strength on Monday, with Japan's Nikkei ending higher, while steel maker JFE Holdings gained on reports of a potential tie-up with South Korea's Hyundai Steel Co.
In Tokyo, the Nikkei 225 index 48.53, or 0.3 percent, to close at 17,470.46 while the benchmark Hang Seng Index ended the session down 44.45 points, or 0.2 percent, to finish at 20,236.68.
Among sharp gainers, Seiko Epson ended up 5.7 percent at 3,320 yen (US$27.25) after the maker of electronics devices and printers said Friday its group net profit in the October-December quarter rose 49 percent on year.
Nomura Research Institute jumped 7.3 percent to 18,930 yen (US$155.42) after the think tank reported good earnings and unveiled plans of a 5-to-1 stock split and higher dividend for this fiscal year.
Elsewhere:
BANGKOK: Thailand's shares ended lower in thin trade on profit taking after gains last week. The Stock Exchange of Thailand's SET index dropped 0.6 percent to close at 653.92 points.
JAKARTA: Indonesia shares closed higher, led by gains in heavyweight Telkom, on bargain buying. The Jakarta Stock Exchange Composite index was up 5.78 points, or 0.3 percent, at 1,765.
KUALA LUMPUR: Malaysian shares ended higher, led by gains in telcos and government-linked companies on foreign buying interest, dealers said. The Kuala Lumpur Composite Index rose 7.64 points, or 0.7 percent, to 1,177.53.
MANILA: Philippine shares advanced on last-minute buying of Philippine Long Distance Telephone Co. and banking and property stocks. The 30-company Philippine Stock Exchange Index gained 14.54 points, or 0.5 percent, at 3,177.36.
MUMBAI: Indian shares fell Monday as concerns of a rate hike by the central bank later this week prompted selling in banking shares. The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, slipped 70.76 points, or 0.5 percent, to 14,211.96 points.
SEOUL: South Korean shares fell, on foreign selling of technology shares amid bearish outlook. The Korea Composite Stock Price Index, or Kospi, dropped 8.12 points, or 0.6 percent, to 1,363.10.
SHANGHAI: Chinese shares rose as investors snapped up banks after funds that failed to win subscriptions in mid-sized lender Industrial Bank's IPO flooded back into the market. The benchmark Shanghai Composite Index, which tracks both A and B shares, gained 2.2 percent to finish at 2,945.26 points. The Shenzhen Composite Index rose 2.4 percent to 700.40.
SINGAPORE: Singapore shares rose, led by conglomerate Fraser and Neave and a rebound in property shares. The Straits Times Index jumped 41.2 points, or 1.3 percent, to 3,128.9.
TAIPEI: Taiwan shares fell for the second straight session, driven down by memory chip makers on falling contract prices. The Weighted Price Index of the Taiwan Stock Exchange dropped 69.53 points, or 0.9 percent, to 7,751.79.
WELLINGTON: New Zealand stocks rose on low volumes due to the Auckland Anniversary Day holiday. The benchmark NZX-50 index rose 15.48 points, or 0.4 percent, to 4,136.33.
SYDNEY: Australian stocks edged down in mixed trading. The benchmark S&P/ASX200 index fell 9.5 points, or 0.16 percent, to 5,760.4.
With files from wire services
