South Korean stocks soared and Japanese stocks edged higher after an extended rebound on Wall Street encouraged buyers, with mobile-handset makers getting a lift from Google Inc.’s acquisition of Motorola Mobility Holdings Inc.
But caution prevailed in many other markets as investors looked toward a meeting of European leaders to discuss that region’s debt troubles. Chinese stocks ended lower after advancing for four straight days, while those in Hong Kong, Australia and Taiwan squandered away early gains.
In Japan, the Nikkei 225 average tacked on 21.02 points, or 0.2%, to 9,107.43
Hong Kong’s Hang Seng Index shaved off 48.02 points, or 0.2%, to 20,212.10
South Korea’s Kospi surged for its biggest one-day percentage gain since January 2009, as it played catch-up after a three-day weekend and as foreign investors returned to chase bargains.
Monday’s Wall Street gains were spurred in part by Google Inc.’s $12.5-billion U.S. purchase of Motorola Mobility, which also boosted sentiment toward many tech shares in Asia.
Foxconn International Holdings Ltd., a manufacturing partner for Motorola Mobility, surged 12.5% in Hong Kong.
HTC Corp. -- which sells handsets based on Google’s Android platform -- ended unchanged in Taipei, avoiding losses in a downbeat Taiwanese market.
In Seoul, stock market heavyweight Samsung Electronics Inc. -- which also sells Android phones --jumped 6.1%.
Among other technology firms, Elpida Memory Inc. soared 5.1% and Renesas Electronics Corp. rose 1.9% in Tokyo.
Over in Sydney, banks lost ground as the positive sentiment initially noticed melted, with Westpac Banking Corp. falling 4.4% after posting a 2% drop in quarterly cash earnings.
Other banks also fell, with Australia & New Zealand Banking Group Ltd. shedding 1.5%.
Shares of Qantas Airways Ltd, which rose earlier in the day on its announcement of a new international strategy and 1,000 potential job cuts, also dropped 0.3% lower in a broadly weak market.
The Australian carrier also plans to form a new premium airline in Asia, along with a low-cost carrier service in partnership with Japan Airlines and Mitsubishi Corp. Mitsubishi shares climbed 0.7% in Tokyo
In other markets;
Shanghai’s CSI 300 Index erased 20.30 points, or 0.7%, to 2,897.58
Korea’s Kospi Index returned from holiday to balloon 86.56 points, or 4.8%, to 1,879.87
Taiwan’s Taiex Index took off 20.80 points, or 0.3%, to 7,798.59
Singapore’s Straits Times Index deducted 41.67 points, or 1.5%, to 2,832.73
New Zealand’s NZX 50 Index added 21.11 points, or 0.7%, to 3,273.75
Australia’s S&P/ASX 200 Index slid 35.60 points, or 0.8%, to 4,247.30
