Asian stock markets were mostly higher on Wednesday, with exporters underpinning the Tokyo market while technology stocks supported Seoul.
The Nikkei 225 Index regained 91.23 points, or 0.9%, to 10,232.30
Hong Kong’s Hang Seng Index dumped 335.63 points, or 1.4%, to 23,092.50.
A fall in the yen against the U.S. dollar and the euro on Tuesday saw investors buy into exporters' stocks in Japan, providing early support to the market.
However, traders say weak Japanese core machinery orders for October will limit gains. Core orders fell a seasonally-adjusted 1.4% on-month, worse than a 0.1% fall forecast in a Dow Jones, Nikkei poll of economists, suggesting the nation's sluggish economy won't get much help from the domestic demand side any time soon.
Sony rose 1.0%, Canon added 0.5% and TDK tacked on 1.6%.
Silicon wafer maker Sumco tumbled 11% after the company said on Tuesday it expected a Y66-billion net loss for the current fiscal year, worse than a Y12-billion loss previously forecast, due to a decline in wafer shipment volumes and prices.
In Seoul, gains in tech plays offset losses in the shipbuilding sector, but overall demand was tempered by a lack of follow-through buying.
Samsung Electronics extended its gains and rose 0.4% on hopes for an improvement in its handset business and the chip market next year. Hynix Semiconductor added 0.2% and LG Electronics rose 0.5%.
Shipbuilding stocks were lower on profit-taking after recent gains with Hyundai Heavy Industries off 0.6% and STX Offshore & Shipbuilding down 1.7%.
In Sydney, the market took a breather after Tuesday's rise to a near four-week high, with some cyclical stocks declining in early trade.
Major banking stocks were off between 0.3% and 0.5%, while in the resources sector BHP Billiton gave up 0.2% although Rio Tinto tacked on 0.5%.
Aston Resources rose 5.0% on news it had sold a 15% stake in its Maules Creek mine to Japanese commodity trader Itochu Corp. for A$345 million. The coal developer said the deal would also allow Itochu to act as exclusive marketing agent for Maules Creek coal into Japan with an option to purchase 15% of the mine's production every year. Itochu was up 0.5% in Tokyo trading.
Shares in New Zealand were helped higher by gains in Telecom, which rose 1.4% on news it was short-listed for the government's project to rollout a broadband network across rural regions.
Telecom, which has also been short-listed for a nationwide broadband rollout, is still awaiting the outcome of its proposal.
In foreign exchange markets, the U.S. dollar remained supported after rising broadly on Tuesday on the back of higher Treasury yields and on President Barack Obama's decision to extend Bush-era tax cuts.
The single currency was at $1.3257 against the U.S. dollar, from $1.3263 late Tuesday in New York, and at Y110.69 against the yen, from Y110.74. The dollar was at Y83.45, from Y83.49.
In other markets
Shanghai’s CSI 300 Index shed 28.46 points, or 0.9%, to 3,171.88
Singapore’s Straits Times Index moved up 10.92 points, or 0.3%, to 3,202.80
Korea’s Kospi Index backtracked 6.80 points, or 0.4%, to 1,955.72
Taiwan’s Taiex Index slid 0.6 points to 8,703.79
New Zealand’s NZX 50 Index recovered 12.48 points, or 0.4%, to 3,294.34
Australia’s S&P/ASX 200 Index fell 26.90 points, or 0.6%, to 4,699.90
