Asian stocks were mostly higher Thursday, with South Korea's Kospi index notching a fresh record, helped by gains in Hyundai Heavy Industries Co., while Japanese markets edged lower after Toyota's quarterly earnings report.
In Tokyo, the benchmark Nikkei 225 stock index fell 11.16 points, or 0.06 percent, to finish at 17,736.96 points while in Hong Kong, the blue chip Hang Seng Index fell 98.51 points, or 0.5 percent, to 20,746.27.
Losses in auto and chemical stocks offset gains in real estate and technology shares.
Losers included Toyota Motor Corp., which fell 1.81 percent to 7,070 yen ($58.92). Japan's largest automaker said Wednesday it expects a 0.4 percent rise in profit for this fiscal year ending March 2008, its smallest growth since its profit fell in the fiscal year ending March 2002.
Sumitomo Chemical Co. shed 7.38 percent to 766 yen ($6.38) after the Tokyo-based petrochemical maker said earlier Thursday it expects a 25 percent drop in group net profit for this fiscal year.
China's benchmark index set a record high for the fourth consecutive session, as more retail investors poured into the market hoping to profit from its bull run. The benchmark Shanghai Composite Index rose 0.9 percent to 4,049.70.
The Shanghai index is up 51.4 percent since the start of the year on flush liquidity, after more than doubling last year.
Elsewere:
BANGKOK: Thai shares ended up 0.9 percent as investors shifted from banking stocks to some construction contractors and telecommunications shares. The Stock Exchange of Thailand's benchmark SET Index added 0.90 point to close at 707.19.
JAKARTA: Indonesian shares rose to a new record high led by gains in Bank Rakyat and car distributor Astra. The Jakarta Stock Exchange Composite index gained 9.053 points, or 0.4 percent, to 2,047.031.
KUALA LUMPUR: Malaysian shares closed higher in thin volume despite persistent profit-taking and bargain hunting in blue chips and heavyweights. The Composite Index of 100 blue chips added 4.78 points, or 0.35 percent, to 1,355.62.
MANILA: Philippine shares dropped, with investors consolidating recent gains ahead of next week's elections. The benchmark 30-company Philippine Stock Exchange Index lost 3.77 points, or 0.1 percent, at 3,342.21, after gaining 0.4 percent Wednesday.
MUMBAI: Indian shares ended lower with the Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, losing 10.28 points, or 0.07 percent, to 13,771.23.
SEOUL: South Korean stocks hit a fresh record, led by gains in shipbuilders. The Korea Composite Stock Price Index, or Kospi, rose 6.26 points, or 0.4 percent, to 1,599.68 -- marking the Kospi's fifth record high close in the past six sessions.
SINGAPORE: Singapore shares ended higher, fueled by record closings on Wall Street and in Shanghai. The Straits Times Index closed up 16.54 points, or 0.48 percent, at 3,469.26.
TAIPEI: Taiwan shares rose moderately in light volume, as investors stayed on the sidelines ahead of a major policy speech by President Chen Shui-bian on May 20. The Weighted Price Index of the Taiwan Stock Exchange gained 44.16 points, or 0.5 percent, to close at 8,096.86.
WELLINGTON: New Zealand stocks rose to a record high, buoyed by Telecom Corp. and news of further one-time gains that will boost the fiscal year profit of the country's second-biggest stock, Fletcher Building. The benchmark NZX-50 index was up 0.5 percent, or 19.1 points, at 4,251.40.
SYDNEY: Australian shares gained as sharp rises by industrial stocks countered declines by BHP Billiton, Rio Tinto and National Australia Bank, as investors switched after recent huge gains among resources. The benchmark S&P/ASX 200 index climbed 14.5 points, or 0.2 percent, to close at the day's high of 6,355.5.
With files from wire services
