Asian markets were mixed Thursday, with resource stocks such as Inpex Holdings, BHP Billiton and PetroChina Co. pacing losses in Japan, Australia and Hong Kong, while Indian shares climbed to a record intraday high as ICICI Bank soared on reports it planned to list four of its subsidiaries.
The benchmark Nikkei 225 stock index sank 211.05 points, or 1.45 percent, to 14,388.11 points, dragged down by real estate and shipbuilding shares.
In Hong Kong, the blue chip Hang Seng Index fell 384.99 points, or 1.39 percent, to 27,230.86.
Shares of Tokyo Electron jumped 2.6 percent in the weak market, after it said orders for its chip and flat panel display-making equipment rose 55 percent in the October-December quarter from a year-ago on capital spending by panel makers.
Shares of other aluminum producers also were weak on the recent decline in the metal's prices, with Nippon Light Metal slipping 1.6 percent in Tokyo.
ELSEWHERE:
BANGKOK: Thailand's main stock index fell 2.5 percent to 800.2, on expectation that foreign investors will continue to decrease equity exposure, with losses dominated by energy blue chips.
MANILA: Philippine shares advanced, buoyed by overnight gains on Wall Street and led by property developer Ayala Land Inc. The Philippine Stock Exchange Index climbed 1.1 percent to 3,454.6.
SEOUL: South Korean shares fell due to large program sellin gon the expiry of options. Analysts said market interest is likely to shift to corporate earnings from Friday. The Korea Composite Stock Price Index, or Kospi, fell 1.1 percent to 1,824.8.
SHANGHAI: Chinese stocks rose as coal miners rose on expectations of higher coal prices, helping offset losses for oil companies and power generators. The benchmark Shanghai Composite Index rose 0.4 percent, or 20.73 points, to 5,456.54. The Shenzhen Composite Index rose 1.1 percent to 1,556.27.
SINGAPORE: Singapore shares tracked major Asian bourses lower as wider concerns about the U.S. economy outweighed the impact of overnight Wall Street gains. Singapore's revamped Straits Times Index fell on its first day, dropping 1 percent to close at 3,311.1.
TAIPEI: Taiwan shares fell, as gains from Wall Street's strong overnight performance were offset by foreign investors selling electronics shares. The Weighted Price Index of the Taiwan Stock Exchange dropped 0.3 percent to 8,057.3.
WELLINGTON: New Zealand stocks were pushed lower by weakness in offshore markets and a lack of local corporate news. The NZX 50 fell 0.4 percent to 3,912.2.
SYDNEY: Jitters about the exposure of Australian banks to Countrywide Financial combined with lingering weakness in resource stocks and caused another dip in the Australian share market. The benchmark S&P/ASX 200 dropped 0.2 percent to 6,078.7.
with files from other wire services
