Asian markets ended mixed Thursday, with Japanese stocks dropping as exporters such as Toyota Motor Corp. declined on a strengthened yen, while Hong Kong shares notched gains for a third session on property developers such as Sun Hung Kai Properties amid expectations of further interest-rate cuts.
The benchmark Nikkei 225 stock index lost 105.79 points, or 0.75 percent, to close at 13,925.51 points, while the blue chip Hang Seng Index rose 107.85 points, or 0.4 percent, to 24,591.69.
Japanese industrial production -- a widely watched indicator in the export-driven economy -- fell 2 percent in January from December, the government said. That was worse than the 0.6 percent drop projected by economists.
Technology shares fell, including Tokyo Electron, which shed 4.6 percent, and Sony Corp., which dropped 1.9 percent.
Export-oriented shares also suffered from the dollar's weakness against the yen. The dollar bought 106.32 yen in midafternoon Tokyo trading, down from 106.45 yen late Wednesday in New York. The euro, meanwhile, slipped to US$1.5113 from US$1.5120. It had broken above $1.50 for the first time Wednesday.
On the Chinese mainland, shares fell on renewed concerns that corporate fundraising plans might flood the markets with new shares, straining liquidity.
The benchmark Shanghai Composite Index fell 0.8 percent, or 34.53 points, to 4,299.51. The Shenzhen Composite Index rose 1.3 percent to 1,356.61.
An announcement by Shanghai Pudong Development Bank that it was scaling back the size of a proposed additional share offering failed to reassure investors jittery over other large firms' fund-raising plans, analysts said.
Investors are also cautious over potential policy changes that could emerge during the annual session of the national legislature, the National People's Congress, and a parallel advisory body, the Chinese People's Political Consultative Conference, which convene in Beijing next week. Major policy and regulatory changes could emerge during their meetings.
Elsewhere:
Singapore's Straits Times Index fell 0.7 percent to 3,074.15.
South Korea's Kospi rose 0.9 percent to 1,736.17.
In Australia, the benchmark S&P/ASX 200 index sank 2 percent to 5,651.2.
with files from other wire services
