Asian markets ended mostly lower Friday in the wake of disappointing weekly-jobless-claims data from the U.S., and with Chinese shares retreating after inflation data triggered fears of an interest-rate hike.
Japan’s Nikkei 225 Index settled 90.72 points, or 0.9%, to 10,499
Hong Kong’s Hang Seng Index added 44.25 points, or 0.2%, to 24,283.20.
Japanese stocks came under selling pressure, with exporters losing ground as the yen strengthened against the U.S. dollar, while fresh government measures to cool property prices hit developers and banks in Singapore.
But some technology shares remained strong after Intel Corp.’s better-than-expected earnings.
Tokyo Electron climbed 3.2% and Ibiden climbed 1.1% in Tokyo; Samsung Electronics added 1.2% in Seoul; and Asustek Computer rose 2.7% and Taiwan Semiconductor Manufacturing rose 0.3%, in Taipei.
In Tokyo, exporters broadly declined on the yen’s strength, with Canon losing 1.3% and Nissan Motor falling 1.4%.
Toyota Motor climbed 0.4% after J.P. Morgan upgraded the stock to Neutral, while Fast Retailing soared 6.4% following Nomura’s upgrade to Buy.
In Seoul, oil refiners fell on worries the government’s efforts to rein in inflation could hurt their bottom lines, after President Lee Myung-bak recently instructed his cabinet to closely monitor whether domestic gasoline prices were appropriate.
SK Energy Co. dropped 3.1% and S-Oil Corp. lost 3%.
Posco fell 1% after posting lower-than-expected fourth-quarter earnings Thursday, but Korea Express Co. jumped 14.5% after Posco said it was interested in buying the logistics firm.
Singapore shares were dragged down by developers and banks a day after the government unveiled fresh measures to prevent home prices from going "beyond sustainable levels." The measures included an increase in the rate of stamp duty and a reduction in the amount of bank loans available to those who aren’t first-time buyers.
Allgreen Properties tumbled 5.7% and City Developments shrank 4.4%, while DBS Group Holdings fell 1.1%.
In foreign-exchange markets, the euro jumped against the U.S. dollar and the yen. The euro was at $1.3437, compared with $1.3364 in late New York trade Thursday, and at ¥110.77 from ¥110.67.
The U.S. dollar was fetching ¥82.45 from ¥82.80.
CHINA
In China, the market was spooked by worries of more policy tightening after a state radio report Thursday cited an official at the country’s top economic-planning agency as saying new policies to combat inflation would be considered if prices rise too quickly in the first quarter.
Shanghai’s CSI 300 Index docked 49.42 points, or 1.6%, to 3,091.86
Metal companies were also pressured lower by declining global metal prices. Jiangxi Copper plummeted 8% and Aluminum Corp. of China skidded 2%.
In other markets
Korea’s Kospi Index gained 18.69 points, or 0.9%, to 2,108.17
Taiwan’s Taiex Index stepped back 3.07 points to 8,972.51
Singapore’s Straits Times Index faded 9.91 points, or 0.3%, to 3,245.96
New Zealand’s NZX 50 dipped 3.82 points, or 0.1%, to 3,369.89
Australia’s S&P/ASX 200 Index was positive 6.30 points, or 0.1%, to 4,801.50
