Hong Kong shares turned sharply lower Thursday, giving up early gains, on a wave of selling in the closing minutes following news that French bank Societe Generale has posted billions of dollars in losses.
Societe Generale will take a $7.1 billion loss after an ''exceptional fraud'' and will also take a 2.05 billion-euro asset write-down charge.
Japan's Nikkei Stock Average regained the 13,000-point level, ending up 2.1% to 13,092.78, on top of its 2% advance in the previous session while the Hang Seng index seesawed over the course of the day before finishing down 2.3 percent at 23,539.27.
In Tokyo, shares of Advantest Corp. tumbled 9.2% after the Nikkei business daily reported that the chipmaker is expected to report a 40% decline in its fiscal-year operating profit on sluggish demand for chip-testing equipment. The company had earlier projected a 17% decline in its annual operating profit.
ELSEWERE:
Australia's S&P/ASX 200 gained 3.1% at 5,580.40.
New Zealand's NZX 50 index rose 1.2% to 3,658.61.
South Korea's Kospi advanced 2.1% to 1,663.
China's Shanghai Composite added 0.3% at 4,717.73 after a volatile session.
Taiwan's Weighted index climbed 1.5% to 7,517.05.
with files from other services
