Asian stock markets ended mixed Thursday, a volatile session in which Japanese shares moved higher on gains in Canon Inc. and drugmakers such as Eisai Co., but Hong Kong, South Korea and New Zealand surrendered early gains.
In Tokyo, Nikkei 225 index rose 113.13 points, or 0.67 percent, on the Tokyo Stock Exchange to 16,984.11 while in Hong Kong, the blue chip Hang Seng Index fell 12.11 points, or 0.05 percent, to 22,443.25.
Gainers included Mitsubishi Estate Co., which climbed 6.31 percent, and Sumitomo Realty & Development Co., which added 3.76 percent.
Banking stocks continued to slump, with Mitsubishi UFJ Financial Group Inc. shedding 1.65 percent and Resona Holdings Inc. dropping 3.25 percent.
ELSEWHERE:
BANGKOK: Thai shares fell 0.4 percent amid worries the U.S. credit industry woes might spark a global economic slowdown. Traders said the downside may be limited as bargain hunting is likely to emerge. The Thai stock exchange's key index lost 3.18 points to close at 830.29.
JAKARTA: Indonesian share prices recovered as the rebound in most Asian markets helped improve sentiment on the local bourse. The JSX Index rose 0.6 percent to 2,270.854 in moderate volumes.
KUALA LUMPUR: Malaysian shares fell 0.5 percent to 1,333.28 points on follow-through selling due to concerns over credit risk in the U.S. and a weaker ringgit.
MANILA: Philippine shares plummeted for the second straight session, with wary investors taking advantage of a brief run-up to quickly take profits in anticipation of more volatility on Wall Street. The 30-company Philippine Stock Exchange Index fell 67.43 points, or 1.97 percent, to 3,359.02, its lowest finish since May 10.
NEW DELHI: Indian shares ended slightly higher Thursday led by cement companies but gave up most early gains toward the end of session as foreign funds sold blue chips. The Bombay Stock Exchange's 30-share Sensex index gained 50 points, or 0.3 percent, to close at 14,986 points. On the broader National Stock Exchange, the 50-company S&P Nifty index climbed 10 points, or 0.2 percent, to end at 4,356 points.
SEOUL: South Korean shares ended slightly lower despite positive overnight cues from Wall Street, with sentiment weakening on continued foreign selling and ongoing concern about credit risks in the U.S. The Korea Composite Stock Price Index, or Kospi, closed 3.38 points, or 0.2 percent, lower at 1,853.07 after trading in a wide range and drifting into positive territory several times.
SHANGHAI: Chinese stocks rebounded, led by banks and property firms, but concerns Beijing will take more measures to cool stocks may limit further gains. The Shanghai Composite Index ended up 2.5 percent at 4,407.73. The Shenzhen Composite Index rose 4.1 percent to 1,293.14.
TAIPEI: Taiwan shares rose as the index recovered partially from the previous session's sharp decline on bargain hunting in heavyweights such as Taiwan Semiconductor Manufacturing and United Microelectronics. The financial subindex lost ground due to ongoing concern over U.S. mortgage woes. The Weighted Price Index of the Taiwan Stock Exchange rose 58.69 points, or 0.7 percent, to close at 8,950.57 points.
WELLINGTON: New Zealand shares closed lower, reversing an early rally as investors were unconvinced by a late rebound on Wall Street. The benchmark NZX-50 index closed down 20.2 points, or 0.5 percent, at 4,138.20 after being up around 15 points in early trading.
SYDNEY: Australian stocks closed higher after volatile trading that saw the benchmark stock index down at one point to its lowest level since March. The benchmark S&P/ASX 200 closed up 70.6 points, or 1.2 percent, at 6,011.8.
With files from wire services
