Asian stocks mostly advanced but remained volatile Monday on concerns over the health of global credit markets, with financial-services shares ending mixed after suffering big losses late last week.
In Tokyo, Nikkei 225 index edged up 0.2 per cent to 16,800.05 while in Hong Kong, the blue chip Hang Seng Index rose 0.45 per cent to 21,891.10.
Investors again took a cautious view toward financials in Tokyo. Shares of Mitsubishi UFJ fell 1.7% and Mizuho Financial Group closed 1.2% lower, unable to sustain intraday gains.
However, shares of automakers recovered part of their losses from Friday, with Honda Motor Co. and Nissan Motor Co. adding 0.5% each.
ELSEWHERE:
MANILA: The 30-company Philippine Stock Exchange Index shed 14.93 points, or 0.45 percent, to close at the day's low of 3267.03. It hit an intraday high of 3310.24.
SEOUL: South Korea's benchmark stock index stabilized Monday, rising 1.1 per cent to close at 1,849.26.
SHANGHAI: The benchmark Shanghai Composite Index gained 1.5 percent to 4,820.06, closing above the symbolic 4,800 level for the first time. The Shenzhen Composite Index slipped 0.9 percent to 1307.24.
TAIPEI: The Weighted Price Index of the Taiwan Stock Exchange rose 7.65 points to close at 8,938.96 points on weak volume. Foreign investors were the main players.
WELLINGTON: New Zealand's NZX 50 index lost 1% at 4,070.16.
SYDNEY: Australia's S&P/ASX 200 gained 1.3% at 6,011.60.
With files from wire services
