Asian markets were mixed Thursday after the U.S. Federal Reserve reduced a key interest rate overnight, with stocks in Tokyo rising on exporters such as Canon Inc. and Toyota Motor Corp., while Seoul- and Shanghai-listed stocks came off highs as investors continued to book profits.
In Tokyo, the Nikkei 225 average ended 0.8 percent higher at 16,870.40, finishing higher for a second day, while the broader Topix index advanced 1 percent to 1,635.78.
In Hong Kong, the Hang Seng Index ended 0.5 percent to 31,492.88, while the 43-issue Hang Seng China Enterprises Index advanced 0.4 percent to 20,164.22.
Shares of China Petroleum & Chemical Corp. soared 9.4 percent after on reports that China unexpectedly raised domestic gasoline and diesel prices by 10 percent to reduce demand and consumption.
Shares of Air China dropped 2.2 percent in Hong Kong on concerns of equity dilution after it said it plans to issue 400 million additional yuan-denominated A shares to buy 54 planes and augment its working capital. Meanwhile, shares of Singapore Airlines traded 0.5 percent higher in the afternoon, after Morgan Stanley Research raised its price target on the stock on better-than-expected second-quarter earnings, released Wednesday.
Banking shares were lower after Mitsubishi UFJ Financial Group late Wednesday said it was likely to fall short of its profit forecast for the full year. Shares of Mitsubishi UFJ, Japan's largest bank by assets, fell 1.8 percent, while Sumitomo Mitsui Financial Group stock fell 1.2 percent.
ELSEWHERE:
JAKARTA: The Jakarta Composite soared 2.9 percent to 2,718.47, off its intraday record at 2,732.67.
MUMBAI: India's Sensex was 0.6 percent up at 19,944.26 in a volatile trading session, during which it fell to 19,704.95 and rose as high as 20,204.21.
KUALA LUMPUR: Malaysia's KLSE Composite soared to a record at 1,423.81, before slipping back to 1,412.28, a decline of 0.1 percent.
SEOUL: South Korea's Kospi jumped as high as 2,085.45, before retreating to end at 2,063.14, 0.1 percent lower than the last close.
SINGAPORE: The Straits Times Index advanced 0.2 percent to 3,812.66.
SYDNEY: Australia's S&P/ASX 200 rose 1.1 percent to 6,828.70, ending above the 6,800-point level for the first time.
TAIPEI: Taiwan's Weighted index closed 1.2 percent lower at 9,598.23.
WELLINGTON: New Zealand's Weighted index was little changed at 4,207.88.
with files from other wire services
