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Asian markets mixed as investors stay cautious

HONG KONG: Asian markets were mixed Wednesday as investor sentiment remained cautious following slight gains on Wall Street overnight, dealers said.

Banking shares led Tokyo 0.55 percent lower as buyers stayed away due to worries about a slew of planned share sales by cash-strapped companies. Hong Kong ended 0.32 percent down on profit-taking after the index hit near a 16-month intra-day high. However, stronger commodities prices helped lift Sydney 0.20 percent, while Shanghai added 0.62 percent. Seoul powered 1.13 percent higher as investor risk appetite was buoyed by the overnight performance of US stocks.

TOKYO: Down 0.55 percent. The Nikkei-225 index fell 53.13 points to 9,676.80, the second straight day of decline. Japan Airlines hit an all-time low of 94 yen after Transport Minister Seiji Maehara said bankruptcy protection was still a possibility for the ailing carrier.

HONG KONG: Down 0.32 percent. The Hang Seng Index fell 73.82 points to 22,840.33. Profit taking set in after the market hit a near 16-month intraday high.

SYDNEY: Up 0.20 percent. The benchmark S&P/ASX 200 added 9.6 points to 4,739.0. The market was lifted by stronger commodities prices amid an absence of offshore leads, dealers said.

SHANGHAI: Up 0.62 percent. The Shanghai Composite Index, which covers both A and B shares, was up 20.34 points to close at 3,303.23. Power companies and utilities gained after heavy snows in northern China, offsetting property developers’ declines, dealers said.

SEOUL: Up 1.13 percent. The KOSPI rose 17.99 points to 1,603.97 points. Samsung Electronics rose three percent to 750,000, and Hynix Semiconductor gained 1.9 percent to 18,750 after recent weakness.

TAIPEI: Up 0.43 percent. The weighted index rose 33.48 points to 7,766.69.

SINGAPORE: Down 0.72 percent. The blue-chip Straits Times Index fell 19.91 points to 2,745.04. Banks were lower, with DBS falling 12 cents to 14.58, United Overseas Bank dropping 28 cents to 19.38 and Oversea-Chinese Banking Corp ending nine cents lower at 8.36.

BANGKOK: Up 0.10 percent. The Stock Exchange of Thailand (SET) composite index was up 0.71 points at 707.26 points. Bangkok Bank dropped 2.50 to 112.50 baht, but Kasikornbank rose 1.75 baht to 85.50 baht, and Siam Commercial Bank edged up 0.75 baht to 84.25 baht.

KUALA LUMPUR: Down 0.38 percent. The Kuala Lumpur Composite Index lost 4.85 points to close at 1,275.10. The bourse may test higher Thursday despite cautious trade ahead of the debut of Malaysia’s largest mobile operator Maxis, analysts said.

JAKARTA: Up 0.42 percent. The Jakarta Composite Index gained 10.44 points to 2,484.22. Car distributor Astra International climbed 1.8 percent to 34,250 rupiah after reporting a 42-percent increase in October car sales.

MANILA: Up 0.68 percent. The composite index gained 20.52 points to 3,052.61. Mining stocks benefited from higher metal prices, dealers said.

WELLINGTON: Down 0.10 percent. The NZX-50 index fell 3.11 points to 3,128.40. afp

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