Asian stocks closed mixed Tuesday, with Hong Kong extending its record run on the back of China-related financials such as Bank of Communications, while exporters such as Sony Corp. and Mizuho Financial Group pulled Japan's main index lower.
Tokyo's Nikkei 225 average dropped 0.3 percent to 16,651.01, while the broader Topix index ended little changed at 1,607.21.
In Hong Kong, the Hang Seng Index raced to its 44th record close of the year at 31,638.22, up 0.2 percent. The Hang Seng China Enterprises Index rose 1 percent to 20,400.07, aided by a rebound in Shanghai from early lows.
Shares of Canon Inc. fell 1.5 percent and Sony dropped 1.4 percent.
Shares of China Construction Bank jumped 6.3 percent as ABN Amro affirmed a buy rating on the stock after its third-quarter financial results, while Bank of Communications gained 1.5 percent and China Merchants Bank tacked on 0.7 percent. In Shanghai trading, however, shares of China Construction Bank rose 4.7 percent and China Merchants Bank advanced 0.7 percent, but Bank of Communications slipped 0.1 percent.
In Sydney, shares of BHP Billiton slipped 0.9 percent and mining rival Rio Tinto lost 0.6 percent. In Seoul, shares of steelmaker Posco dropped 0.3 percent, while and Oil & Natural Gas Corp. was trading 0.3 percent lower in Mumbai.
But in Hong Kong, shares of Cnooc Ltd. rose 2.2 percent ahead of its quarterly financial results. The company increased its oil production by 3.8 percent and its natural-gas production by 17.9 percent from the year-ago quarter, according to reports.
ELSEWHERE:
MUMBAI: The Sensitive index was one percent lower at 19,788.26.
SEOUL: South Korea's Kospi dropped 0.5 percent at 2,052.37.
SINGAPORE: The Straits Times index lost 0.6 percent at 3,794.11 in late afternoon trading.
SYDNEY: Australia's S&P/ASX 200 fell 0.6 percent to 6,750.20.
TAIPEI: Taiwan's Weighted index lost 0.5 percent at 9,757.93.
WELLINGTON: New Zealand's NZX 50 index added 0.1 percent to 4,219.78.
with files from other wire services
