Technology shares powered a mostly upbeat session for Asian markets Thursday, with Sony Corp. leading Tokyo to a four-month closing high and Samsung Electronics and LG Electronics helping Seoul rise to its highest level in 19 weeks.
Japan's benchmark index rose for a fourth day, climbing to its highest in more than four months as traders were heartened by an overnight gain on Wall Street and Sony Corp.'s upbeat earnings. The Nikkei 225 index added 133.19 points, or 0.9 per cent, to 14,251.74, its highest since Jan. 10.
In Tokyo trading, Sony's stock soared 8.7 per cent yen after it said Wednesday it had swung to a profit in the January-March quarter from a loss a year ago - and that fiscal year earnings hit a record.
NEC Corp.'s shares rose 5 per cent. As the market closed, the computer and network equipment maker said its profit for the fiscal year through March more than doubled on year.
In Hong Kong, the blue-chip Hang Seng Index edged down 19.77 points, or 0.1 per cent, to 25,513.71.
Y.K. Chan, a fund manager at Phillip Asset Management, said traders were cautious, fearing the full impact of the earthquake in Sichuan province wasn't clear. The disaster has killed at least 19,500 and left another 27,000 buried or missing. Half a million houses have collapsed.
In mainland China, stocks declined modestly on worries about a slowdown in corporate earnings growth and a massive supply of new shares following the end of a lockup period.
The benchmark Shanghai Composite Index ended down 0.6 per cent at 3,637.32. The Shenzhen Composite Index fell 0.5 per cent to 1,133.14.
Analysts said it is still too early to say that bearish sentiment has come to an end, despite a 23 per cent rebound in the overall market in the past three weeks. They expect the Shanghai index to continue to consolidate in a 3,500 to 3,700 band.
Elsewhere:
Australia's S&P/ASX 200 climbed 0.3%.
Taiwan's Weighted index rose 1.5%.
Singapore's Straits Times index added 0.3%.
Malaysia's KLSE Composite added 0.5%.
India's Sensex firmed 2.2%.
New Zealand's NZX 50 index slipped 0.4%.
South Korea's Kospi index rose 2.3% to 1,885.71, its loftiest closing level since Dec. 28.
with files from other wire services.
