Most Asian markets ended lower Tuesday as worries about the U.S. debt ceiling impasse led investors to take profit after a strong recent run.
In Japan, the Nikkei 225 Index returned from holiday to gain 77.51 points, or 0.7%, to 10,879.08. The index hit a level not seen since the end of April 2010 earlier in the session, though it moved off its highs, as the yen staged a modest rebound in midday action.
In Hong Kong, the Hang Seng index demurred 31.75 points, or 0.1%, to 23,381.51
The moves in Asia came after U.S. stocks ended Monday’s session on a muted note, weighed by losses for Apple Inc. with the Nasdaq and S&P 500 both closing lower.
Foreign-exchange moves helped drive the gains in Tokyo, although the dollar fell back during the day, returning below the 89-yen level in the early afternoon.
Many Japanese exporters managed to advance regardless, with Sony Corp. rising 1.2%, Olympus Corp. leaping 7.7% and Panasonic Corp. advancing 2.7%.
However, some Japanese tech manufacturers suffered after reports Monday that Apple had cut orders for iPhone 5 parts for the current quarter due to weaker-than-expected demand.
Among the Apple suppliers, Sharp Corp. fell 2.7% and TDK Corp. lost 2.5%.
Likewise, Taiwan-listed Apple contractor Hon Hai Precision Industry Co. fell 3.4%.
Over in Seoul, LG Display Co. lost 3.5% and Apple’s handset rival Samsung Electronics Inc. fell 2.6%.
In Hong Kong, telecom firms were under pressure, with China Mobile Ltd. down 1.4% and China Unicom Ltd. giving up 2.3%.
Telecoms were also weighing in Australian trade, with heavyweight Telstra Corp. down 1.3%.
Rio Tinto Ltd. slipped 0.1%, but came off early lows. The firm said Tuesday that its 2012 iron ore output rose 4% to a record 253 million metric tons, slightly exceeding its forecast.
Among gainers in Sydney, surfwear retailer Billabong International Ltd. jumped 16% to 98 Australian cents (one American dollar) after VF Corp. and Altamont Capital Partners announced late Monday that they had submitted a buyout offer for the firm.
The bid values Billabong at 1.10 Australian dollars per share — about $1.16 a share or $556 million total in U.S. currency, matching a separate offer by private-equity firm Sycamore Partners and former director Paul Naude.
CHINA
Mainland Chinese stocks extended their rally on more buying amid hopes for greater foreign participation in the domestic markets.
The Shanghai CSI 300 added 18.13 points, or 0.7 %, to 2,595.86, amid speculation that mainland Chinese stock markets will open further to foreign investors.
In other markets
In Singapore, the Straits Times Index dipped 10.52 points, or 0.3%, to 3,196.07
Korea’s Kospi Index doffed 23.30 points, or 1.2%, to 1,983.74
Taiwan’s Taiex Index docked 58.95 points, or 0.8%, to 7,765.02
The NZX 50 tacked on 17.04 points, or 0.4%, to 4,170.96
Australia’s ASX Index fell back 3.15 points, or 0.1%, to 4,716.56
