Most Asian stock markets ended with mild losses Thursday on expectations the European Central Bank’s massive lending to banks won’t solve the region’s debt crisis.
Japan’s Nikkei 225 Index lopped off 64.82 points, or 0.8%, to 8,395.16, heading into a three-day weekend.
In Hong Kong, the Hang Seng Index slid 38.22 points, or 0.2%, to 18,378.20
Investor caution ahead of the year-end continued to affect trading volumes across most of the region.
The performance in Asia followed a flat finish for the Dow Jones Industrial Average Wednesday, after an E.C.B. bank-lending program garnered higher-than-expected demand.
The ECB loaned 489 billion euros ($639 billion U.S.) to 523 banks for three years. Some analysts said the E.C.B.’s new lending program wouldn’t increase lending between banks and does nothing to reduce the huge debt burdens of European governments
Toyota Motor Corp fell 0.6% after saying its sales were estimated to fall 6% in 2011, likely costing the company its position as the world’s biggest auto maker by sales.
Alibaba.com Ltd. rose 0.5% in Hong Kong and Yahoo Japan Corp. added 2.1% in Tokyo, following reports that Yahoo Inc. was in talks to shed most of its ownership in the Asian assets.
Technology shares were in focus after the Nasdaq Composite underperformed other major benchmarks in the U.S.
Advantest Corp. lost 4.5% and Renesas Electronics Corp. dropped 0.9% in Tokyo, while Hynix Semiconductor Inc. fell 0.9% in Seoul.
Chip-maker Elpida Memory Inc. rose 0.3%, after a Nikkei business daily report that it was opening talks with Taiwan’s Nanya Technology Corp. to discuss a tie-up and possible integration. Nanya shares lost 0.5% in Taipei.
Elpida also said Thursday it was in discussions with banks to secure fresh working capital.
Resource shares were weak in Sydney, with BHP Billition Ltd. down 1.4% and Rio Tinto Ltd. 1.8% lower.
Gold miners tracked a loss for gold futures in overnight New York trade. Zijin Mining Group Co. fell 2.3% in Hong Kong and 0.8% in Shanghai; Newcrest Mining Ltd. lost 3.3% in Sydney.
Australian consumer-product retailers extended a recent negative run. Department store Myer Holdings Ltd. slumped 6.2%, electronics seller JB Hi-Fi Ltd. fell 3.8%, and Harvey Norman Holdings Ltd. lost 2.4%.
The losses came after outdoor-clothing retailer Kathmandu Holdings Ltd. warned of weak Christmas demand, sending its shares to end down 25.5% on both the Wellington and Sydney exchanges.
In other markets;
Shanghai’s CSI 300 index poked ahead 2.23 points, or 0.1%, to 2,341.33
Taiwan’s Taiex Index slipped 0.13 points to 6,966.35
Korea’s Kospi Index eased 0.92 points to 1,847.49
Singapore’s Straits Times Index subtracted 8.52 points, or 0.3%, to 2,664.80
New Zealand’s NZX 50 Index fell 15.84 points, or 0.5%, to 3,207.24
Australia’s S&P/ASX 200 Index dipped 48.70 points, or 1.2%, to 4,090.80
