Asian stocks open higher but Korea falls


Korean stocks are off after tech weakness in New York, but Hynix is higher as its deal with Micron seems dead

HONG KONG, China -- Asian markets are moving higher on Friday morning, with Australian stocks shaking off conflicting signals from Wall Street overnight.

The benchmark S&P/ASX200 index is ahead 0.12 percent at 3,366.2 at noon.

The exception is Seoul, where the Kospi is sharply lower. It's down 2.3 percent at 840.22 in mid-morning trade.

Korean investors are mulling Micron Technology's decision on Thursday to walk away from any prospect of a deal with Hynix Technology.

Hynix moving ahead after Micron walks

Hynix stock is sharply higher, up 3.7 percent at 845 won. But the Korean government and analysts have said they are not sure what will become of the company if it is left to fend for itself.


Markets are closed for a holiday in Tokyo and will reopen on Tuesday

Rival Samsung Electronics is down 3.2 percent at 364,500 won. Tech shares are generally lower in Asia after Nasdaq's 1.95 percent fall overnight on Wall Street, to 1,644.82.

But the Dow Jones industrial average gained 0.32 percent to 10,091.87.

The market in Japan is closed Friday for a holiday, Constitution Day, and will be closed again on Monday, for Children's Day. It will resume trading Tuesday.

The stock exchanges in China, in Shanghai and Shenzhen, are both closed for the week-long Labor Day holiday. They restart on May 8.

Priceline bashes techs

The U.S. market saw poor earnings from Priceline.com, which pushed investors into basic material and energy stocks.

The tech wariness saw the Nasdaq composite end at lowest level in almost seven months.

The Australian market was looking for a stronger offshore lead after closing flat on Thursday as slides in market giants Telstra, BHP Billiton and Westpac were balanced by gains in other blue chips.

Hong Kong stocks rose slightly at the open, up 0.03 percent with the Hang Seng index at 11,783.50 just after the start of trade.

Taiwan's market is down 1.3 percent, the Taiex at 5,791.56 just after 10 a.m. local time.