Asian stocks kick off the third quarter mixed

Some markets took their cue from Wall Street which slipped Tuesday after a surprise fall in U.S. consumer confidence dented hopes for a recovery in spending to lead the country out of recession.

The Dow Jones Industrial Average slumped 81.85 points (0.96 percent) to 8,447.53 at the market close.

Tokyo slipped 0.19 percent despite the Bank of Japan's quarterly Tankan survey showing that business confidence among major Japanese manufacturers had improved for the first time in two-and-a-half years.

Many investors were disappointed because they had hoped for a better reading, dealers said.

Sydney dived 2.05 percent but Seoul was up 1.55 percent.

Shanghai added 1.65 percent after a continued rise in the purchasing managers index for June reinforced investors' belief in an economic recovery.

Hong Kong and Bangkok were closed for a public holiday.

TOKYO: Down 0.19 percent. The Nikkei-225 index lost 18.51 points to end at 9,939.93, a day after ending at a two-week high. There was a muted response to the quarterly Tankan survey, which rose to minus 48 in June from a record low of minus 58 in March. Market forecasts had been for a figure of about minus 43. Large companies' plans to reduce their investment in plants and equipment were also met with disappointment.

SYDNEY: Down 2.05 percent. The S&P/ASX 200 shed 80.9 points to 3,874.0. “The combination of northern hemisphere summer holidays, a shortened trading week in the U.S. and fund managers focusing on end-of-year report writing led to low volumes and a lack of conviction,” said IG Markets analyst Ben Potter.

SHANGHAI: Up 1.65 percent. The Shanghai Composite Index closed at 3,008.15. The index breached 3,000 points for the first time in more than a year and closed at its highest level since June 11, 2008, when it finished at 3,024.24. A continued rise in the purchasing managers index for the manufacturing sector to 53.2 in June from 53.1 in May reinforced investors' belief in an economic recovery, traders said.

SEOUL: Up 1.55 percent. The KOSPI index ended up 21.59 points at 1,411.66.

SINGAPORE: Up 0.83 percent. The Straits Times Index advanced 19.41 points to 2,352.55.

KUALA LUMPUR: Up 0.39 percent. The Kuala Lumpur Composite Index gained 4.16 points to 1,079.40.

JAKARTA: Up 1.63 percent. The Jakarta Composite Index gained 33.1 points to 2,059.88.

MANILA: Down 0.21 percent. The composite index fell 5.10 points to 2,432.89.

WELLINGTON: Down 0.56 percent. The NZX-50 index fell 15.74 points to 2,780.37.

MUMBAI: Up 1.05 percent. The benchmark 30-share Sensex gained 151.63 points to 14,645.47.

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