Asian markets mixed as financials stay strong

Tokyo fell 1.32 percent and Hong Kong lost 0.86 percent while Taipei edged lower but there were gains in Sydney, which added 0.22 percent, while Seoul rose 1.03 percent.

And Singapore was boosted by data showing the economy grew for the second successive quarter in September.

Wall Street fell 0.11 percent on downbeat housing and inflation data, weighing on regional stocks.

Banks and brokerages in Japan led the market south, following MUFG's announcement Wednesday that it plans to raise one trillion yen (11.2 billion dollars) from investors by issuing new shares.

Market watchers see other banks following suit, sparking concerns of diluted share prices.

However financial shares were stronger, beating off the negative sentiment.

“The financial and materials sectors supported the market today, with the financials the standout,” said IG Markets analyst Ben Potter.

TOKYO: Down 1.32 percent. The Nikkei-225 dropped 127.33 points to 9,549.47. Shares were hit by a weak performance on Wall Street and worries about Mitsubishi UFJ's plans to issue new shares, dealing a blow to domestic financial stocks.

HONG KONG: Down 0.86 percent. The Hang Seng Index fell 197.17 points to 22,643.16. The market has fallen for three straight days.

SYDNEY: Up 0.22 percent. The S&P/ASX 200 rose 10.2 points to 4,749.2.

SHANGHAI: Up 0.53 percent. The Shanghai Composite Index, which covers both A and B shares, was 17.38 points higher at 3,320.61. The index has advanced 19 percent since the end of September.

The 28 stocks listed on the Nasdaq-style ChiNext board all closed higher on Thursday, led by Beijing Lanxum Technology, which surged by the 10 percent daily limit to 33.06 yuan.

SEOUL: Up 1.03 percent. The KOSPI rose 16.57 points to 1,620.54.

SINGAPORE: Up 0.50 percent. The Straits Times Index rose 13.75 points to 2,758.79.

BANGKOK: Down 0.97 percent. The Stock Exchange of Thailand lost 6.84 points to 700.42.

KUALA LUMPUR: Up 0.12 percent. The Kuala Lumpur Composite Index gained 1.55 points to 1,276.65.

JAKARTA: Down 0.62 percent. The Jakarta Composite Index lost 15.44 points to 2,468.78.

MANILA: Up 1.01 percent. The index rose 30.69 points to 3,083.30.

WELLINGTON: Up 0.41 percent. The NZX-50 rose 12.77 points to 3,141.18.

MUMBAI: Down 1.25 percent. The 30-share Sensex index fell 213.13 points to 16,785.65.

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