Asian stock markets were mixed Monday, with QR National’s debut supporting Australia’s market and recent weakness in the yen helping Japan’s benchmark indexes log four winning sessions in a row.
But real-estate shares in Hong Kong finished sharply lower in the wake of government measures to cool property prices.
Tokyo’s Nikkei 225 Index finished in the green 92.80 points, or 0.9%, to complete the week’s first session at 10,115.20.
Hong Kong’s Hang Seng Index let go of 81.69 points, or 0.4%, to 23,524.
Regional sentiment was somewhat upbeat after Ireland finally applied for bailout money from the European Union and the International Monetary Fund, although the terms and conditions of the rescue package are yet to be finalized.
In Tokyo, the yen’s recent weakness encouraged investors to buy exporters’ stocks.
TDK Corp. rose 2.4%, Nikon Corp. advanced 1.5%, Toyota Motor Corp. tacked on 1.1% and Isuzu Motors Ltd. rose 3.5%.
The Australian market found support following a reasonably well-received debut by QR National Ltd. Stock in the railway firm closed at 2.65 Australian dollars ($2.64 U.S.), up from its A$2.55 offer price.
The Queensland government said Saturday it raised A$4.6 billion in gross proceeds from the initial public offering -- the first multibillion-dollar IPO to come to the domestic market since Myer Holdings late last year.
The Hong Kong market was weighed by sharp losses in property plays after the government on Friday delivered some of its toughest moves thus far to cool the city’s red-hot real estate market. The new measures would significantly increase transaction costs for short-term speculators.
Real estate agency Midland Holdings Ltd. tumbled 17%, while Cheung Kong (Holdings) Ltd. fell 3.2% and Sun Hung Kai Properties Ltd. lost 3.1%.
In foreign-exchange markets, the Irish bailout request gave the euro a lift. The euro was fetching $1.3736 against the U.S. dollar, against $1.3691 late Friday in New York, and 114.52 against the yen versus 114.26 yen. The dollar was at 83.41 yen compared with 83.46 yen.
CHINA
In China, investors traded with caution after the People’s Bank of China Friday said it will raise banks’ reserve requirement ratio by half a percentage point from Nov. 29.
Shanghai’s CSI 300 Index sifted off 6.91 points, or 0.2%, to 3,171.94.
It’s the fifth such increase this year, aimed at reining in credit growth and rising inflation.
However, analysts said the central bank’s latest move lowers the chance of an interest-rate increase in November.
Defensive names such as wine makers and pharmaceutical companies were among the gainers, with Shanxi Xinghuacun Fen Wine Factory Co. up 2.8% and Jiangsu Kanion Pharmaceutical Co. 4.4% higher.
But banking stocks ended lower, with Bank of China Ltd. down 1.2% and China Citic Bank Corp. losing 2.3% in Shanghai.
In other markets
Singapore’s Straits Times Index eased 6.45 points, or 0.2%, to 3,197.37
Korea’s Kospi Index inched ahead 3.38 points, or 0.2%, to 1,944.34
Taiwan’s Taiex Index gathered 68.79 points, or 0.8%, to 8,374.91
New Zealand’s NZX 50 Index advanced 28.48 points, or 0.9%, to 3,296.63
Australia’s S&P/ASX 200 Index gained 14.30 points, or 0.3%, to 4,643.50
