Asian stocks ended mostly higher Monday, although Japanese shares traded erratically after the quarterly tankan survey by the Bank of Japan showed stronger-than-expected sentiment among large manufacturers.
In Tokyo, the main Nikkei 225 index rose 0.36 percent to 16,845.96 while in Hong Kong, markets were closed for the weeklong National Day holidays. Hong Kong trading resumes Tuesday.
The quarterly tankan survey of corporate sentiment showed that the key confidence index for large manufacturers stood unchanged at 23, beating forecasts for a drop to 21. The results helped boost regional banks as some investors believed the survey's positive results increased the probability of a near-term interest rate hike.
Bank of Yokohama gained 0.9 percent; Shizuoka Bank added 0.9 percent. Automakers also benefited, with Mitsubishi Motors climbing 5.1 percent.
Builders, however, were hit by August new housing data released Friday. The data showed a sharp 43 percent fall in new houses from the previous year, worse than the consensus forecast of 15 percent drop. Kajima Corp. lost 3.8 percent. Real estate developer Mitsubishi Estate lost 0.9 percent.
ELSEWHERE:
BANGKOK: The main index on the Stock Exchange of Thailand rose 0.8 percent to 852.47 on late buying in blue chips. Gains in Thai Oil, PTT and Siam Cement helped to push up the market.
JAKARTA: The main index for the Jakarta Stock Exchange rose 1.7 percent to 2,399.46 in moderate volume.
KUALA LUMPUR: Malaysia's Kuala Lumpur composite index rose 0.8 percent to 1,347.05 in heavy volume, led mostly by Telekom Nasional. Telekom rose 9.3 percent on it plans to list its cellular division. It contributed more than 70 percent to the rise of the index.
MANILA: Philippine shares edged up, lifted by gains in property stocks on expectation the central bank may cut interest rates later this week. The 30-company Philippine Stock Exchange index rose 0.7 percent to 3,597.92. It dipped 0.1 percent Friday.
SEOUL: South Korean shares rose for the sixth straight session Monday to finish at a two-month high. Brokerages and bank shares led gainers amid optimism over upcoming third-quarter corporate earnings. The Korea Composite Stock Price Index rose 0.8 percent to 1,962.67.
TAIPEI: Taiwan shares rose slightly, supported by investors buying non-tech issues. The Weighted Price Index of the Taiwan Stock Exchange rose 0.13 percent to end at 9,488.50.
WELLINGTON: New Zealand stocks ended a touch higher in an uneventful session that delivered little major corporate news to drive the market. There was also a lack of leads from overseas because of a public holiday in parts of Australia. The NZX 50 index rose 0.3 percent to 4,281.19 points.
SYDNEY: Australian stocks gave up early gains to close flat as profit takers moved in at the end of a day of light trading. The S&P/ASX200 fell 0.1 percent to 6,563.7 on light volumes due to a public holiday in the financial center of Sydney.
with files from other wire services
