Asian markets end lower on tech decline


A Japan-based human rights group protests the violence in the Middle East. Fears of an escalation of violence unnerved investors in Asia and in the U.S.

HONG KONG, China -- Asian markets ended lower Thursday due to major high-tech losses on the back of Nasdaq's overnight fall.

In Tokyo, the benchmark Nikkei average ended down 21.51 points, or 0.19 percent, at 11,379.20, while the broader Topix index rose 7.27 points, or 0.67 percent, to 1,091.63.

In other markets, South Korea, Australia, Taiwan, Hong Kong, and Singapore were all lower, as Wall Street's decline and the escalation of violence in the Middle East spooked investors.

South Korea, Taiwan, and Hong Kong markets will be closed on Friday for a holiday.

Japan's Nippon Steel rose 3.68 percent to 197 yen, while Mitsubishi Chemical Corp gained 3.24 percent to 319 yen.

NTT DoCoMo, Japan's leading mobile phone carrier, closed up 1.36 percent at 372,000 yen.

In other sectors, Mizuho Holdings, the world's largest bank by assets, fell 0.69 percent to 286,000 yen. UFJ Holdings slipped 1.05 percent to 284,000 yen.

Electronics giant Sony Corp eased 0.29 percent, while rival Kyocera Corp shed 2.25 percent to 9,110 yen.

Japan's leading automaker Toyota Motor slid 0.27 percent to 3,700 yen, while Honda Motor lost 1.46 percent to 5,400 yen.

Long holiday

South Korean shares finished flat as investors stayed on the sidelines ahead of the long holidays.

The key Kospi ended down 0.06 percent at 918.01, while the over-the-counter Kosdaq rose 0.38 percent to 88.20.

Samsung Electronics, the world's largest memory chipmaker, slid 3.71 percent to 389,000 won on profit taking.

State-run power monopoly Korea Electric Power Corp declined 1.2 percent to 24,700 won, after its unionized workers said sympathy walkouts are still possible.

In Australia, stocks ended near their lowest point for the year, dragged lower by index heavyweight News Corp.

Resource majors were knocked broadly lower by retreating base metals, gold and oil prices.

The benchmark S&P/ASX 200 index closed down 5.2 points, or 0.15 percent, at 3,372.6. News Corp dropped 1.6 percent to a one-month low of A$12.25.

Sliding base metal prices helped push Rio Tinto down 1.3 percent to A$37.71, but rival BHP Billiton ended up 0.4 percent at A$11.71.

Techs ignored

Taiwan stocks ended lower after investors stayed clear of tech plays. The benchmark Taiex index finished down 87.57 points, or 1.39 percent, at 6,207.09.

Taiwan Semiconductor Manufacturing tumbled 2.63 percent at T$92.50, while rival United Microelectronics tumbled 1.85 percent at T$53.00.

In Singapore, shares were weaker as blue chips were hurt by Wall Street's losses. The key Straits Times Index was down 0.27 percent, or 4.81 points, at 1,778.18 heading towards the close.

ST Engineering tumbled 3.85 percent after Credit Suisse First Boston downgraded it to a hold from a buy and cut its fair value to S$2.50 from S$3.30 due to concern about margin pressures.

Among other blue chips, Singapore Airlines fell 2.21 percent to S$13.30 on worries that Middle East tensions will drive oil prices higher. SingTel was up 1.28 percent to S$1.58.

In Hong Kong, the Hang Seng Index fell 2.59 points or 0.02 percent to 10,831.37 by the close.

Most blue chips were slightly weaker except for property shares, which helped cap losses in the market.

Sun Hung Kai Properties added 0.44 percent to HK$57.50m while Henderson Land Development climbed 1.6 percent to HK$31.70.

Banking leader HSBC eased 0.28 percent to HK$88.75. China Mobile gave up 0.21 percent to HK$23.60.