Major stock markets ended mixed Tuesday in Asia, with export-related shares such as Samsung Electronics Ltd. and Canon Inc. pressured after weak U.S. new-home sales raised concerns that the pace of economic growth could be slowing in the region's most important export market.
In Tokyo, the benchmark Nikkei 225 index shed 156.91 points, or 0.90 percent, to finish at 17,365.05 while Hong Kong's Hang Seng Index fell 59.06 points, or 0.3 percent, to 19,706.79.
Losers included Kansai Electric Power Co., which lost 3.77 percent to 3,570 yen (US$30.25) and Takeda Pharmaceutical Co., which posted a 2.24 percent drop to 7,840 yen (US$66.44). Tech and telecom stocks also declined, with KDDI Corp. falling 1.47 percent to 940,000 yen (US$7,966.10).
Elsewhere:
JAKARTA: Indonesia shares rose, led by gains in heavyweight Telkom on hopes for higher 2006 dividend. The Jakarta Stock Exchange Composite Index added 5.94 points, or 0.33 percent, to 1,819.66.
KUALA LUMPUR: Malaysia's key stock index rose as government-linked funds helped counter foreign selling pressure on heavyweight shares. The Kuala Lumpur Composite Index of 100 blue chips added 0.2 percent to 1,247.17 points.
MANILA: Philippine shares rebounded from a two-session slide as investors sought bargain stocks, including Philippine Long Distance Telephone Co. The 30-company Philippine Stock Exchange Index gained 24.71 points, or 0.8 percent, at 3,174.75.
MUMBAI: Financial markets in India were closed for a holiday.
SEOUL: South Korean shares rose on gains in steelmaker Posco and Kookmin Bank. The Korea Composite Stock Price Index, or Kospi, rose 3.46 points, or 0.2 percent, to 1,453.23.
SHANGHAI: Chinese shares climbed for a seventh straight session to close at a record high, led by strong demand for blue chips. The benchmark Shanghai Composite Index rose 0.5 percent to 3,138.81, a fifth straight record high close. The Shenzhen Composite Index gained 1 percent to 841.48.
SINGAPORE: Singapore shares ended higher, with blue chips shrugging off weakness in regional markets and concerns over the U.S. housing market to end broadly higher. The benchmark Straits Times Index rose 29.6 points, or 0.9 percent to 3234.1.
TAIPEI: Taiwan shares dropped slightly as investors anticipated lackluster first-quarter revenues of tech firms. The Weighted Price Index of the Taiwan Stock Exchange fell 32.65 points, or 0.4 percent, to close at 7,845.17.
WELLINGTON: New Zealand stocks closed higher for a second day, building on sharp gains in the previous session as investors continued to show interest in leading blue chips. The benchmark NZX-50 was up 22.1 points, or 0.5 percent, at 4,127.27.
SYDNEY: Australian stocks market slipped in a directionless day of trading dragged down by the property sector. The benchmark S&P/ASX200 index dropped 26.5 points, or 0.4 percent, to 5,964.2.
With files from wire services
