Asian stocks ended on a mixed note Friday, with a stronger Japanese yen keeping export-oriented shares in check in Tokyo, but Hong Kong overcame early weakness to end at a record high for a third straight session.
In Tokyo, the benchmark Nikkei 225 stock index shed 0.62 percent to close at 16,312.61 on the Tokyo Stock Exchange, while the blue chip Hang Seng Index rose 142.65 points, or 0.65 percent, to 25,843.78, after gaining a total 1,125 points the previous two sessions.
Mitsubishi UFJ Nicos Co. plunged 13.38 percent in the wake of its announcement that it was cutting its earnings outlook to a 111.8 billion yen (US$969 million; euro691 million) loss from the 15.5 billion yen profit it originally forecast. Fellow lender Takefuji Corp. shed 13.79 percent.
Banking stocks dipped as well, as Japan's big banks have large stakes in the consumer finance sector. Nicos' parent Mitsubishi UFJ Financial Group fell 3.80 percent.
Japan's consumer finance business has been in a slump, as companies face tighter regulations and cope with refund requests from a growing number of borrowers who overpaid interest on their loans.
Semiconductor companies fell in the wake of preliminary August data from a trade body showing poor orders and declining chip prices. Elpida Memory lost 5.24 percent, while equipment maker Advantest Corp. fell 1.4 percent.
Higher raw material prices boosted trading houses and commodity stocks. Marubeni Corp. rose 1.51 percent, oil producer Inpex Holdings added 2.52 percent, and steel maker JFE Holdings gained 2.96 percent.
ELSEWHERE:
BANGKOK: Thailand's main stock index ended up 2 percent at 831.51 on foreign buying and gains in oil shares. Trading volume hit a three-week high.
JAKARTA: Indonesian shares rose on buying in blue chips, with the main index adding 1.3 percent to finish at 2,335.487.
KUALA LUMPUR: Malaysian shares fell on Wall Street's weakness overnight and as investors took profit in select blue chips. The benchmark KLCI lost 0.2 percent to 1,305.94 in moderate trade.
MANILA: Philippine shares slipped as investors pocketed gains after a 4.6-percent rise in the exchange's main benchmark the previous two sessions. The 30-company Philippine Stock Exchange Index lost 0.5 percent to 3,423.73.
MUMBAI: Indian shares moved to a record high, boosted by fund buying in blue chips including index heavyweight Reliance Industries and telecommunication stocks. The Bombay Stock Exchange's 30-share Sensex index rose 216 points, or 1.3 percent, to close at 16,564 points. The Sensex gained about 6.2 percent for the week.
SEOUL: South Korean shares ended higher, helped by shipper STX Pan Ocean's strong debut. The Korea Composite Stock Price Index, or Kospi, finished 0.5 percent higher at 1,919.26. The index rose 2.6 percent for the week. South Korean markets will be closed Monday-Wednesday for the country's annual autumn harvest festival.
SHANGHAI: China shares edged down on profit taking in blue chips over concerns about tightening liquidity from upcoming initial public offerings. The benchmark Shanghai Composite Index shed 0.3 percent to 5,454.67, while the Shenzhen Composite Index fell 0.5 percent to 1,499.01.
SINGAPORE: Singapore shares ended lower on profit-taking. The benchmark Straits Times Index fell 0.3 percent to 3,542.22.
TAIPEI: Taiwan shares ended at a 6-week high on strong gains in cement, textile and some electronics stocks. The main index added 1.4 percent to 9,105.28, its highest close since Aug. 9. Taiwan's financial markets will close Monday and Tuesday for the annual Mid-autumn Festival holiday.
WELLINGTON: New Zealand stocks were boosted by a surge in shares of casino operator Sky City after it received a takeover approach. The benchmark NZX-50 index rose 0.6% to 4231.16.
SYDNEY: Australian stocks fell broadly in quiet trading, though commodity stocks held steady. The benchmark S&P/ASX 200 index dropped 0.6 percent to 6357.9.
with files from other wire services
