Asian markets mixed by midday


Firmness in mobile phone carrier NTT DoCoMo helped cap losses in Tokyo

HONG KONG, China -- Asian markets were mixed by midday Thursday, with Tokyo lower after heavy selling weighed on tech issues.

But firmness in Japan's leading mobile phone carrier NTT DoCoMo, as well as in major bank shares, capped the downside.

The tech-sensitive Nikkei 225 average ended the morning down 53.39 points, or 0.47 percent, to 11,270.29.

The broader, capital-weighted Topix index meanwhile edged up 2.11 points, or 0.20 percent, to 1,079.43.

In other markets in the region, South Korea, Singapore and Hong Kong were all higher as blue chips advanced, while Australia and Taiwan slipped on interest rate hike fears and weak corporate sales.

In Japan, Advantest Corp, a manufacturer of semiconductor testing devices, fell 1.98 percent to 9,920 yen.

Investors chased NTT DoCoMo on expectations it would post a group net loss of 100 billion yen ($753.6 million) and take a special charge of one trillion yen ($7.5 billion) on overseas investments.

Banks on the rise

Shares in NTT DoCoMo advanced 3.46 percent to 359,000 yen.

In the banking sector, Mizuho Holdings rose 3.68 percent to 310,000 yen, while UFJ Holdings climbed 4.32 percent to 314,000 yen. Sumitomo Mitsui added 2.4 percent to 547 yen, but MTFG eased just in the red, down 0.1 percent to 809,000 yen.

Automaker Toyota Motor added 1.87 percent to 3,820 yen, Nissan rose 1 percent to 955 yen and Honda edged up 0.73 percent to 5540 yen.

Mitsubishi Motors, which jumped sharply Wednesday on confirmation that Rold Eckrodt would become CEO in June, added another 0.88 percent to 343 yen.

Consumer electronics giant Sony Corp inched up 0.3 percent to 6,790 yen, while Kyocera Corp lost 1.85 percent to 9,030 yen.

End-March book closing

Seoul shares rose for a third day by midday, boosted by financial firms ahead of the end-March book closing.

The benchmark Kospi rose 0.74 percent, or 6.65 points, to 909.11. The over-the-counter Kosdaq added 0.98 percent to 94.01.

Solid domestic consumption and expectations for a recovery in exports boosted domestic and export-oriented shares, analysts said.

Leading department store Shinsegae jumped more than five percent to a high of 241,000 won, while Samsung Electronics added 0.8 percent to 366,500 won.

In Australia, stocks were mixed as investors took profits from banks, media and some miners following their previous rally.

The benchmark S&P/ASX 200 index slipped 5.7 points, or 0.17 percent, at 3,405.8.

Three major banks retreated from Wednesday's rally on lingering worries over rate hikes ahead. National Australia Bank slid 0.6 percent.

Resources giant Rio Tinto dropped 0.7 percent to A$37.54. Media heavyweight News Corp declined 0.4 percent to A$13.10.

Weak sales

Taiwan stocks slipped in early trade as concerns remain over weak corporate sales during the annual slack manufacturing season in the first half.

The main Taiex shares index was down 17.60 points, or 0.29 percent, to 6130.15.

United Microelectronics gained T$1.50, or 2.94 percent, to T$52.50 after it approved a plan to sell 80 million common shares of AU Optronics to boost earnings.

Shares of AU Optronics, the world's third-largest large display panel maker, fell T$0.90, or 1.8 percent, to T$49.10.

Taiwan's top personal computer maker Acer Inc was unchanged at T$57.00 after the merger with its distribution firm Acer Sertek took effect on Wednesday.

In Singapore, the benchmark Straits Times Index was up 0.57 percent, or 10.22 points, at 1,805.38 in late morning trade.

Among the blue chips, United Overseas Bank rose 1.33 percent to S$15.20, Venture Manufacturing gained 1.10 percent to S$18.30, and Singapore Press Holdings climbed 0.82 percent to S$24.70.

In Hong Kong, stocks were slightly higher by late morning, with the benchmark Hang Seng Index up 0.32 percent at 11,022.80.

China Unicom, which reported a 38 percent profit growth Wednesday to about $538 million, was up 0.66 percent at HK$7.65. Rival China Mobile was up 1.69 percent to HK$24.10

Bank leader HSBC was virtually unchanged, up 25 cents to HK$89.75.

Among the top blue chips, property plays Swire Pacific and Wheelock gained 0.96 percent and 1.65 percent respectively.