Most Asia markets finished higher but off session highs on Thursday, as investors digested a mixed bag of earnings reports.
In Japan, the Nikkei 225 Index inched ahead 0.82 points to 9,561.83
In Hong Kong, the Hang Seng Index improved 163.42 points, or 0.8%, to 20,809.71
In Tokyo, Canon Inc. dropped 2.2%, after the camera maker reported its quarterly profit rose 11%. Index-heavyweight Fanuc Corp. slumped 6.1% after its quarterly results disappointed.
Other Japanese industrial and manufacturing firms also suffered falls. Notably, Kawasaki Heavy Industries Ltd. fell 3.6%, and Hitachi Construction Machinery Co. dropped 3.7%.
Losses for another major Nikkei component — Fast Retailing Ltd.— also weighed, with shares losing 1.1%.
Major electronics firms were weaker in Seoul. LG Electronics Inc. sunk 5.8% and LG Display Co. down 3.7%.
Shares in China Life Insurance Co. added 1.5%, after reporting a 29% drop in net profit, amid expectations for improvement in coming quarters.
Mobile telecom China Unicom Hong Kong Ltd. jumped 4% after posting a seven-fold gain in first-quarter profit.
Tokyo-listed telecom KDDI Corp. rose 1.5% despite posting a drop in profit.
And in Seoul, shares in the world’s No. 2 DRAM-chip-maker SK Hynix Inc. gained 0.6%. The firm reported a swing to a first-quarter loss but said it expects the industry to recover as computer and smartphone growth picks up.
Gains for property firms also lent support in Hong Kong. Agile Property Holdings Ltd. jumped 2.8% and China Overseas Land & Investment Ltd. added 2%.
Some resource firms advanced in Sydney, with diversified miner Rio Tinto Ltd. up 0.9% while energy firm Santos Ltd. put on 1.5%.
Shares in Atlas Iron Ltd. rose 0.7% after the miner said it will conduct a study with QR National Ltd. into a new railway for the resource-rich Pilbara region in Western Australia. QR National shares rose 1.7%.
On the downside, a profit warning from Seven West Media Ltd. late Tuesday saw shares plunge 22.8%, as investors reacted to the news
In other markets;
In Shanghai, the CSI 300 Index gained 5.50 points, or 0.2%, to 2,631.49
Korea’s Kospi Index advanced 2.06 points, or 0.1%, to 1,964.04
The Taiex index in Taiwan sifted off 41.83 points, or 0.2%, to 7,521.35
New Zealand’s NZX 50 Index returned from holiday to add 0.97 points to 3,520.82
Australia’s S&P/ASX 200 Index put on 11.10 points, or 0.3%, to 4,444.96
