Asian markets ended mixed Tuesday, with the advance on Wall Street and recent gains in commodities broadly lifting shares of miners and energy producers.
But several indexes pared gains or slid into negative territory in the afternoon, as investors locked in profits. Concerns that China may tighten lending policy also weighed on investor sentiment.
The Nikkei 225 index in Tokyo gained 22.54 points Tuesday, or 0.2%, to close the day, at 10,375.01, its highest finish since October, although the closing level was way off the day's peak.
In Hong Kong, the Hang Seng index skidded 10.83 points, or 0.1%, to 20,796.43, reversing early gains, and in spite of a 7% surge in shares of index heavyweight HSBC Holdings after the banking giant posted better-than-expected half-yearly results Monday.
Materials stocks got a boost from Monday's rise in the prices of several industrial metals, as improved manufacturing reports -- especially from China and the U.S. -- gave more weight to hopes for a strong rise in demand.
Rio Tinto climbed 4.3% and Alumina gained 0.6% in Sydney. Nippon Light Metal added 2.1% and Nippon Steel rose 0.3% in Tokyo, while Aluminum Corp. of China climbed 3.3% in Hong Kong.
Inpex rose 0.7% in Tokyo, while in Sydney, BHP Billiton rose 2% and Oil Search gained 0.9%, but Woodside Petroleum gave up early gains to end 0.2% lower.
PetroChina fell 1.4% in Hong Kong, but rose 0.2% in Shanghai. Cnooc fell 0.2% in Hong Kong.
In Sydney, shares of ANZ Bank rose 3%, after the bank announced that it will pay $550 million U.S. for some of Royal Bank of Scotland's Asian banking operations. The bank said it will acquire RBS's retail and commercial banking operations in Taiwan, Singapore, Indonesia and Hong Kong, and its institutional businesses in Taiwan, the Philippines and Vietnam.
In Taiwan, phone-maker HTC was limit-down by 7% for a second day after posting disappointing third-quarter guidance, weighing on the Taiwanese market.
CHINA
Shanghai’s 300 Composite Index was fairly flat at 3,786.62. Chinese banks declined on reports that the country's banking regulator may deem subordinated bonds issued by a bank ineligible as capital if those bonds are held by another bank. The banking regulator estimates about half the subordinated bonds in circulation are held by such banks.
Bank of China fell 2.8%, China Construction Bank lost 1.6% and Industrial & Commercial Bank of China shed 3.2% in Hong Kong. In Shanghai, those shares fell 1.9%, 1.8% and 2.2%, respectively.
Elsewhere:
Singapore’s Straits Times Index was 32.88 points, or 1.2%, lower, to close at 2,648.76.
South Korea’s Kospi index finished ahead 1.39 points, or 0.1%, to 1,556.37
Taiwan’s Taiex fell 100.84 points, or 1.4%, to 6,955.87
New Zealand’s NZX 50 Index gained 44.95 points, or 1.5%, to 3,092.80
Australia’s S&P/ASX 200 added 45.90 points, or 1.1%, to 4,309.30
