Stock markets across Asia ended mixed Friday with Hong Kong gaining as investors sought bargains after recent declines, while Korea pulled back as foreign investors reduced their holdings on continued uncertainty about the US market and economy.
Japanese market was closed for a public holiday. Wall Street was closed Thursday for the Thanksgiving holiday and will trade for just half a day today.
The Hang Seng index closed up 2.1 pct at 26,541.09, finding further support from news that Henderson Land chairman Lee Shau-kee, who has been dubbed "Asia's Warren Buffet", is ready to invest 10 bln hkd in the local market.
The KOSPI index closed down 1.5 pct at 1,772.88. The S&P/ASX 200 closed down 0.1 pct at 6,330.2 and the All Ordinaries was down 0.04 pct at 6,392.4.
The Singapore Straits Times closed up by 0.4 pct at 3,325.89 and the Malaysian KLCI was closed up 0.7 pct at 1,353.55. The Shanghai Composite closed higher by 0.96 pct at 5,032.13. The Taiwanese Taiex closed down 1.9 pct to 8,342.
Among individual stocks, Hong Kong banks rose after Standard & Poor's raised ratings on the top three lenders. China's biggest bank by assets ICBC rose 3.47 pct to 5.96 hkd. Bank of China gained 1.5 pct to 4.05 hkd, while China Construction Bank rose 3.05 pct to 7.09 hkd.
CNOOC Ltd rose 4.4 pct to 13.3 hkd. China's biggest offshore oil producer said it has made 10 new oil and gas discoveries in the mainland so far this year.
In Seoul, Samsung Electronics was a standout, closed higher by 3.3 pct to 557,000 won on an improving chip industry outlook. The stock gained 4.7 pct on Thursday.
The rally was accelerated by hopes that the company's governance structure will become more transparent and that it will gain more independence from Samsung Group as prosecutors investigate allegations of bribery at South Korea's largest conglomerate.
Mirae Asset Securities, South Korea's second largest brokerage by market capitalization, fell 14.3 pct to 138,000 won. The Financial Supervisory Service (FSS) recently said it will inspect the company's sales operations and fund management arm amid growing concerns about a newly launched investment fund
product.
Meanwhile, Manila's composite index was up 0.5 pct at 3,494.44 on a technical rebound led by index heavyweight Philippine Long Distance Telephone Co, snapping a three-day decline. The market was also supported by rotational interest into cheaper stocks.
In Indonesia, the composite index closed up 0.6 pct at 2,584.35, led by Astra International and miners, but gains were limited as some market players squared positions ahead of the weekend.
Japanese market was closed for a public holiday. Wall Street was closed Thursday for the Thanksgiving holiday and will trade for just half a day today.
The Hang Seng index closed up 2.1 pct at 26,541.09, finding further support from news that Henderson Land chairman Lee Shau-kee, who has been dubbed "Asia's Warren Buffet", is ready to invest 10 bln hkd in the local market.
The KOSPI index closed down 1.5 pct at 1,772.88. The S&P/ASX 200 closed down 0.1 pct at 6,330.2 and the All Ordinaries was down 0.04 pct at 6,392.4.
The Singapore Straits Times closed up by 0.4 pct at 3,325.89 and the Malaysian KLCI was closed up 0.7 pct at 1,353.55. The Shanghai Composite closed higher by 0.96 pct at 5,032.13. The Taiwanese Taiex closed down 1.9 pct to 8,342.
Among individual stocks, Hong Kong banks rose after Standard & Poor's raised ratings on the top three lenders. China's biggest bank by assets ICBC rose 3.47 pct to 5.96 hkd. Bank of China gained 1.5 pct to 4.05 hkd, while China Construction Bank rose 3.05 pct to 7.09 hkd.
CNOOC Ltd rose 4.4 pct to 13.3 hkd. China's biggest offshore oil producer said it has made 10 new oil and gas discoveries in the mainland so far this year.
In Seoul, Samsung Electronics was a standout, closed higher by 3.3 pct to 557,000 won on an improving chip industry outlook. The stock gained 4.7 pct on Thursday.
The rally was accelerated by hopes that the company's governance structure will become more transparent and that it will gain more independence from Samsung Group as prosecutors investigate allegations of bribery at South Korea's largest conglomerate.
Mirae Asset Securities, South Korea's second largest brokerage by market capitalization, fell 14.3 pct to 138,000 won. The Financial Supervisory Service (FSS) recently said it will inspect the company's sales operations and fund management arm amid growing concerns about a newly launched investment fund
product.
Meanwhile, Manila's composite index was up 0.5 pct at 3,494.44 on a technical rebound led by index heavyweight Philippine Long Distance Telephone Co, snapping a three-day decline. The market was also supported by rotational interest into cheaper stocks.
In Indonesia, the composite index closed up 0.6 pct at 2,584.35, led by Astra International and miners, but gains were limited as some market players squared positions ahead of the weekend.
Supplied by advfn.com
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