Asian stocks ended mixed on Monday as investors considered disappointing U.S. non-farm payrolls data released Friday and Federal Reserve Chairman Ben Bernanke's comment that a further expansion of the central bank's asset purchase program was possible.
The Nikkei 225 Index sidled back 11.09 points, or 0.1%, to 10,167.20
Hong Kong’s Hang Seng Index fell 82.83 points, or 0.4%, to 23,237.70
Shares of Riversdale Mining surged in Australia on confirmation it was in talks with Rio Tinto about a takeover offer. Honda Motor and India's Hero Honda Motors declined on the Japanese company's reported plans to exit their Indian joint venture.
Federal Reserve Chairman Ben Bernanke said on CBS' "60 Minutes" news program, aired on Sunday, that "it's certainly possible" the central bank could expand a program to buy $600-billion U.S. in Treasury securities beyond the initial target it announced about a month ago.
In Sydney, Riversdale Mining surged 15.7% to A$16.31 after confirming mining giant Rio Tinto had discussed an indicative A$15-a-share bid for the coking coal miner, but added that there's been no formal proposal. Rio Tinto fell 0.5%.
Some major stocks with U.S. dollar earnings fell, with News Corp. down 1.1% and Brambles down 1.0%; News Corp. owns Dow Jones Newswires.
In Tokyo, Honda Motor shed 0.6%, showing a limited reaction to local media reports that said the automaker plans to pull out of a motorcycle joint venture in India with Hero Group and build a new plant in the country.
The broader market was mixed as exporters declined on a firmer yen, while steel and other commodity-linked stocks rose. Among exporters, Canon fell 1%, while Panasonic Corp. dropped 1.2%.
Iron and steel shares were the best performers on the board, with JFE Holdings rising 2.1%. Kobe Steel closed up 3.0% on a report in the Nikkei business daily that it will team up with five other firms to domestically produce titanium materials for airplanes.
In Seoul, some auto-parts makers rose after the U.S. and South Korea finalized a free trade agreement over the weekend, paving the way for the removal of import tariffs for South Korean-made car parts once the pact takes effect. Hyundai Mobis rose 1.5%, Sejong Industrial gained 3.1% and Hwashin climbed 9.5%.
Shinhan Financial Group jumped 5.0% after the company confirmed an earlier local media report that its President, Shin Sang-hoon, who has been suspended from duties since September, will offer his resignation.
In foreign exchange markets, the U.S. dollar recovered some of the ground it lost on Friday against the euro. The single currency was fetching $1.3258 from $1.3414 late in New York Friday, and Y109.81 from Y110.86. The dollar was buying Y82.84 from Y82.64.
CHINA
Shares in China ended higher on gains in oil producers after crude oil futures rose to a two-year-high. However, with investors uncertain over China's economic policy next year ahead of the early-December Central Economic Work Conference, further gains remain capped.
Shanghai’s CSI 300 Index gained 7.41 points, or 0.2%, to 3,165.57.
Among oil plays, PetroChina's Shanghai shares jumped 4.7%, while China Petroleum & Chemical added 2.0%.
In other markets
Singapore’s Straits Times Index inched ahead 8.97 points, or 0.3%, to 3,181.44
Korea’s Kospi Index eased back 3.62 points, or 0.2%, to 1,953.64
Taiwan’s Taiex Index improved 78.22 points, or 0.9%, to 8,702.23
New Zealand’s NZX 50 Index added 9.88 points, or 0.3%, to 3,293.18
Australia’s S&P/ASX 200 Index slipped 5.60 points, or 0.1%, to 4,688.60
