South Korean and Japanese shares advanced Tuesday to take back some of the losses suffered the previous day, as fears aroused in the wake of North Korean leader Kim Jong-il’s death subsided.
Japan’s Nikkei 225 Index picked up 40.36 points, or 0.5%, to end Tuesday at 8,336.48
In Hong Kong, the Hang Seng Index edged upward 9.99 points, or 0.1%, to 18,080.20
Australian shares declined on uncertainty over the euro-zone’s outlook. Trading was choppy in many regional markets, with volumes thin ahead of the upcoming Christmas holidays
Pipe manufacturer Hyundai Hysco soared 9.2% after five consecutive days of losses, including a 4.4% drop Monday, while STX Offshore & Shipbuilding Co. rose 3.5% after taking heavy losses in the previous three sessions.
In Tokyo, shares of Olympus Corp. climbed 16.4% after a string of recent losses, in spite of a Nikkei news report the company may raise 100 billion yen ($1.28 billion U.S.) by issuing new shares.
Shipping firms also advanced, with Mitsui O.S.K. Lines Ltd. rising 4% and Nippon Yusen K.K. climbing 2.7%.
Some exporters also bounced off their recent losses, with Sharp Corp. rising 3.6% and Fujitsu Ltd. climbing 0.8%.
Some commodity producers were among the decliners in Sydney. Shares of BHP Billiton Ltd. fell 0.6%, while Alumina Ltd. dropped 1.7%.
Newcrest Mining Ltd. declined 3.2% after the gold miner cut its annual production forecast.
Shares of hearing implants maker Cochlear Ltd. surged 16.4% in strong volume after the company said it had identified the cause for the failure of its top-selling device
In other markets;
Shanghai’s CSI 300 index subtracted 7.33 points, or 0.3%, to 2,377.07
Taiwan’s Taiex Index added 29.31 points, or 0.4%, to 6,662.64
Korea’s Kospi Index recovered 16.13 points, or 0.9%, to 1,793.06
Singapore’s Straits Times Index shaved off 3.64 points, or 0.1%, to 2,614.45
New Zealand’s NZX 50 Index dropped 21.01 points, or 0.7%, to 3,202.02
Australia’s S&P/ASX 200 Index fell off 7.70 points, or 0.2%, to 4,053.10
