Publications
Partners
Hong Kong - Asian markets were mostly higher on Thursday as investors took a breather after a rally at the start of the week, but Tokyo slipped on profit-taking and a stronger yen.
Hopes that the United States and Russia would be able to make a deal that will avoid a US-led military strike on Syria provided buying support as markets awaited fresh trading cues.
Tokyo dipped 0.26%, or 37.80 points, to 14 387.27. Seoul ended flat, edging up just 0.21 points to 2 004.06, and Sydney added 0.15 percent, or 8.1 points, close to a five-year high of 5 242.5.
Shanghai ended 0.64% higher, adding 14.34 points to 2 255.61, while Hong Kong was flat, edging up 16.58 points to 22 953.72.
Global markets have been buoyant over the past week following the release of strong data out of China indicating an economic slowdown has come to an end, while Japanese growth was also showing signs of perking up.
Japan's Nikkei fell as investors cashed in after a more than four percent rally since Monday that was fuelled by an upward revision in April-June economic growth and Tokyo's successful bid to host the 2020 Olympics.
Exporters were also sold as the yen rebounded against the dollar. The greenback, which peaked at ¥100.60 on Wednesday, saw a sell-off.
The dollar fell to ¥99.54, compared with ¥99.92 late in New York and well off the ¥100.50 seen on Wednesday in Tokyo. The euro fetched $1.3302 and ¥132.40 against $1.3314 and ¥133.03 in US trade.
Investors were hoping the United States and Russia would be able to reach a deal that will see Syria hand over its chemical weapons and avert an attack from American forces.
US Secretary of State John Kerry was due to meet his Russian counterpart in Geneva as the two sides seek a diplomatic solution to the crisis, which was sparked by the Assad regime's alleged use of chemical weapons on its own civilians.
Global markets were recently sent into a tailspin on expectations the US would lead a strike.
Wall Street provided a mostly positive lead, with the Dow up 0.89% and the S&P 500 rising 0.31%. However, the tech-driven Nasdaq dipped 0.11%, dragged down by a 5.4% loss for Apple as investors were left unimpressed by its latest iPhone release.
Attention will now turn to Washington and next week's Federal Reserve policy meeting, where board members are expected to decide on the future of the bank's huge stimulus programme.
Market consensus is that the Fed will begin to wind down the $85bn-a-month bond-buying as the US economy shows signs of strengthening.
However, a weaker-than-forecast jobs report last week has sparked speculation that the bank will only reduce its buying by about $10bn a month.
On oil markets New York's main contract, West Texas Intermediate for delivery in October, fell 18 cents to $107.38 a barrel, while Brent North Sea crude for October added 17 cents to $111.67.
Gold cost $1 342.80 an ounce at 10:35 compared with $1 361.73 late Wednesday.
In other markets:
-- Taipei rose 0.20%, or 16.37 points, to 8 225.36.
Smartphone maker HTC rose 4.44% to Tw$141.0 while Taiwan Semiconductor Manufacturing Co. fell 0.96% to Tw$103.5.
-- Manila was up 0.31%, or 19.29 points, at 6 195.61
Philippine Long Distance Telephone Co. dipped 0.07% to 2 888 pesos and Ayala Corp. lost 1.92% to 563 pesos.
-- Wellington rose 0.14%, or 6.60 points, to 4 641.49.
Auckland International Airport was up 2.37% at NZ$3.25 and clothing store Hallenstein Glasson gained 2.1% to NZ$4.90.
