Asian markets finished Monday on a mixed note, with major indexes posting modest moves in pre-holiday trade, as concern about further property-market-cooling measures weighed on Hong Kong but strength in oil shares supported the Japanese market.
In Tokyo, the Nikkei 225 Index regained 41.42 points, or 0.4%, to 10,193.47.
In Hong Kong, the Hang Seng Index, the losing streak picked up from where it left off last week, as the Hang Seng Index sustained another triple-digit loss, this one of 227.78 points, or 1.1%, to 20,948.10.
Shares in Hong Kong slipped as concerns that the Chinese government may take further measures to cool the property market continued to weigh on mainland property developers and banking stocks.
This followed the Chinese government's announcement of a new rule last week requiring property developers to make a minimum down payment of 50% on land purchases.
HSBC Holdings closed down 1.1%, China Overseas Land & Investment Ltd. fell 1% and China Construction Bank ended 1.3% lower in Hong Kong.
Hang Lung Properties fell 3.2% and Wharf (Holdings) Ltd. dropped 7.4%.
In Australia, the market ended lower after finding earlier support from strength in resource stocks.
BHP Billiton closed up 0.9% and Newcrest Mining rose 1.8%. Qantas Airways climbed 5.1% on its positive first-half earnings guidance.
But financials gave up earlier gains to finish mainly lower. Australia & New Zealand Banking Group lost 1.8% and Commonwealth Bank of Australia fell 1.3%.
In Japan, resources and shipping stocks led an advance with buyers also encouraged by the yen's weakness against the dollar.
Shares of Nippon Oil rose 2.8% and Japan Petroleum Exploration closed up 2.2% following gains in oil prices last week. Nippon Yusen K.K. advanced 1.8%.
Positive Japan November trade data released before the open also supported sentiment, but the "market doesn't have enough participants to gain strong momentum," according to one expert.
Japan posted a bigger-than-expected 373.9-billion-yen ($4.14-billion U.S.) trade surplus in November, a positive sign for the economy, which relies on exports to drive growth as domestic demand continues weak.
Taiwan electronics shares got a boost after a government official said that local chip and LCD firms may be allowed to invest more in China. AU Optronics ended 5.7% higher while Taiwan Semiconductor Manufacturing Co. rose 0.5% in Taipei.
South Korean shares finished off the session's lows as solid gains in technology plays and a rebound in brokerage stocks helped, but most banks fell on profit-taking. In Seoul, Hynix Semiconductor closed up 1.9%, LG Display was 2.4% higher and Hanwha Securities tacked on 5.7%.
On the losing ledger, KB Financial fell 1% and Shinhan Financial lost 1.2%.
In foreign exchange markets, the majors traded in a tight range as holiday-thinned trade and absence of key data left markets searching for direction. The euro was at $1.4311 against the U.S. dollar, compared with $1.4335 in late New York Friday, and was fetching 129.55 yen versus 129.57 yen. The dollar was at 90.50 yen compared with 90.37 yen in New York.
CHINA
The Shanghai 300 Composite Index gained 4.89 points, or 0.1%, to 3,396.62.
Broad strength in mainland China helped lift Poly Real Estate by 1.2% in Shanghai and China Vanke by 1.2% in Shenzhen after hefty declines on Friday.
Elsewhere;
Taiwan’s Taiex index strengthened 33.64, or 0.4%, to 7,787.27
Singapore’s Straits Times index slid 15.78 points, or 0.6%, to 2,786.81
Korea’s Kospi index stumbled 2.81 points, or 0.2%, to 1,644.23
New Zealand’s NZX Index finished 4.42 points, 0.1%, lower at 3,149.80
Australia’s S&P/ASX 200 lost 15.40 points, or 0.3%, to 4,635.10
