Asian stocks staged a late reversal to end mostly higher Friday, with markets in Shanghai and Hong Kong leading the rebound as Japan's Nikkei closed in the red, bringing a six-session winning steak to an end.
In Tokyo, Nikkei 225 index shed 80.54 points, or 0.44 percent, to 18,140.94 while in Hong Kong, the blue chip Hang Seng Index rose 278.75 points, or 1.25 percent, to a record close of 22,531.74.
Investors locked in profits from recent solid gainers, including Canon Inc., which lost 1.10 percent, and Honda Motor Co., which slid 0.66 percent.
Utilities also fell, with Chubu Electric Power Co. shedding 2.98 percent.
ELSEWHERE:
BANGKOK: Thai shares advanced 1 percent to 832.38 points, wrapping up a stellar week despite mild profit-taking along the way.
JAKARTA: Indonesia shares ended yet at another record high as investors continued to buy resource-based companies on strong global commodity prices, as well as automotive companies amid recovering car sales. The main index edged up 0.3 percent to 2,227.05 points, but volume was relatively thin.
KUALA LUMPUR: Malaysian shares climbed 0.3 percent to 1,373.84 points.
MANILA: Philippine shares slipped as most investors stayed on the sidelines while the market consolidated a day after hitting a fresh record close. The benchmark 30-company Philippine Stock Exchange Index dropped 43.48 points, or 1.1 percent, to 3,758.84, after rising 6 percent during five of the last six sessions.
MUMBAI: Indian stocks closed at a record high, lifted by key technology and telecommunications shares. The Bombay Stock Exchange's 30-share Sensex index gained 102 points, or 0.7 percent, to close at an all-time high of 14,964.12 points. On the broader National Stock Exchange, the 50-company S&P Nifty index climbed 31 points, or 0.7 percent, to also end at a record closing high of 4,384.85 points.
SEOUL: South Korean shares rose to a fresh closing high, lifted by a surge in heavyweight chipmakers helped by a sharp rebound in DRAM chip prices. The Korea Composite Stock Price Index, or Kospi, gained 13.22 points, or 0.7 percent, to finish at 1,861.01.
SHANGHAI: Chinese stocks recovered from early losses to post their largest one-day gain in six months, led by heavyweight financial companies and property developers. The benchmark Shanghai Composite Index surged 4.6 percent to 3,781.35, its biggest daily rise in percentage terms since it soared 4.7 percent on Jan. 15. The benchmark lost 5.3 percent on Thursday. The Shenzhen Composite Index of China's smaller, second market rose 5 percent to 1,066.22.
SINGAPORE: Singapore's banks and some offshore and marine companies helped lift the island's stock index slightly, but analysts said consolidation is likely to persist until later in the month, when the earnings season kicks off. The Straits Times Index closed up 10.28 points, or 0.29 percent, at 3,561.96.
TAIPEI: Taiwan shares rose their fifth-straight session to hit a new 7-year high on broad-based buying. The Weighted Price Index of the Taiwan Stock Exchange rose 39.53 points, or 0.4 percent, to 9,188.31 in the heaviest volume since December 2005.
WELLINGTON: New Zealand shares dipped as the strong local currency continued to reduce demand, although travel company Tourism Holdings and bathroom appliance maker Methven both rallied on positive news. The benchmark NZX-50 Index dropped 13.2 points, or 0.3 percent, to 4,223.5 on moderate turnover.
SYDNEY: Australia's share market ended the week in the black despite drifting off slightly amid little news flow as traders await tonight's U.S. June payrolls data. The benchmark S&P/ASX 200 index dropped 11.2 points, or 0.2 percent, to 6,351.1.
With files from wire services
