Stock markets in Japan snapped a three-day losing streak on Thursday, lifted by a media report saying the government might cut corporate taxes and on speculation a huge state pension fund could increase how much it invests in stocks.
The Nikkei 225 index in Japan leaped 178.59 points, or 1.2%, to 14,799.12, after falling as much as 1.4% during the session amid worries about a deadlock over its budget and debt ceiling.
In Hong Kong, the Hang Seng index fell 84.60 points, or 0.4%, to 23,125.03
Hong Kong shares slipped on Thursday, dragged by a 3.1% tumble for global exporter Li & Fung Ltd on a news report that U.S. retailer Wal-Mart is cutting orders.
Wal-Mart denied the report and Li & Fung said there have been no cancellations of orders from Wal-Mart.
Among financial shares in Tokyo trading without dividend rights, Nomura Holdings Inc. lost 0.9%, and Mizuho Trust & Banking Co. shed 0.5%. Elsewhere, shares of Advantest Corp. sank 7.5% after the maker of testing systems for memory chips projected a yearly net loss because demand for chips has been weaker than anticipated.
Australian stocks declined Thursday, keying off losses on Wall Street where concerns about a possible government shutdown in Washington next week lingered.
Financial issues paced decliners as National Australia Bank Ltd. lost 1%, and Australia & New Zealand Banking Group pulled 0.6% lower. Retailers sagged and the energy group slumped after oil futures dropped for a fifth consecutive session overnight.
Shares of Woodside Petroleum Ltd. gave up 0.4%. Mining stocks, however, outperformed the broader market, with Rio Tinto Ltd. up by 0.7%.
Meanwhile, stock in Telstra Corp. shed 0.1% after the telecommunications company said it will cut 1,100 jobs as part of a restructuring effort.
CHINA
The Shanghai CSI 300 index dipped 44.59 points, or 1.8%, to 2,384.44
The monetary-policy committee advising the People's Bank of China has been reshuffled, according to the State Council. The committee is still headed by central bank Gov. Zhou Xiaochuan and has 15 members, according to a statement on the central government website dated Sept. 22.
In other markets;
Korea’s Kospi index added 9.26 points, or 0.5%, to 2,007.32
Taiwan’s Taiex index tumbled 99.22 points, or 1.2%, to 8,184.68
The Singapore Straits Times Index dropped 14.27 points, or 0.4%, to 3,194.31
In New Zealand, the Exchange 50 Gross Index inched up 0.75 points to 4,765.47
In Australia, the S&P/ASX 200 progressed 18.52 points, or 0.4%, to 5,294.46
