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Hong Kong - Asian shares were mixed on Monday, with initial losses recouped in some markets but gains capped by fears over the Iraq crisis that has sent oil prices to nine-month highs.
The uncertainty fuelled by insurgents who have seized a swathe of Iraq sent traders into safer assets, with the yen ticking higher against the dollar and the euro while gold also rose.
The pound touched a five-year high against the dollar on expectations the Bank of England will raise interest rates within the next six months.
Tokyo tumbled 1.09%, or 164.55 points, to finish at 14 933.29 as the strong yen hit exporters.
But Sydney edged 0.13% higher, adding 7.25 points to 5 412.3, while Seoul gained 0.14%, or 2.74 points, to 1 993.59.
Hong Kong was flat, edging down 18.50 points to 23 300.67. Shanghai added 0.74%, or 15.26 points, to 2 085.98 following more upbeat data on the world's number two economy last week.
Investors are nervously tracking events in Iraq as Islamic militants sweep though the country, taking over key cities and moving towards Baghdad as the US-trained Iraqi army crumbles.
US President Barack Obama has raised the prospect of air strikes on the militants, saying his national security team is "looking at all the options". But while an aircraft carrier group has been deployed to the Gulf, he has ruled out any return of combat troops.
Washington is also preparing to hold talks with Iran to try to resolve the crisis, a report said, as the US condemned a "horrifying" massacre by Islamic militants of hundreds of Iraqi soldiers.
On Wall Street Friday the Dow rose 0.25%, the S&P 500 added 0.31% and the Nasdaq put on 0.30%. However, the indexes were all lower over the week.
