HONG KONG, Dec 5: Asia’s stocks were mixed on Friday despite a series of rate cuts in Europe as dealers awaited key jobs figures from the United States and the Big Three automakers begged for a billion-dollar bailout.

Markets had opened higher after the European Central Bank slashed its lending rate by a record 0.75 percentage points and the Bank of England chopped 100 basis points off its rate.

However, jitters remained that the moves would not be enough to a boost the overall economy, and gains were pared.

Hong Kong closed 2.5 per cent higher, Seoul 2.1 per cent, Singapore 0.94 per centand Shanghai 0.8 per cent. However, Sydney lost 1.2 per cent, Tokyo 0.08 per cent and Taipei 0.70 percent.

The fate of the Big Three US automakers remained uncertain after chief executives asked sceptical senators to deliver a $34-billion bailout for the ailing industry.

TOKYO: Japanese stocks ended slightly lower.

The benchmark Nikkei-225 index dropped 6.73 points, or 0.08 per cent, to 7,917.51. The broader Topix index of all first section issues slipped 2.86 points, or 0.36 per cent, to 786.02.

Major bank stocks remained under pressure. Mizuho Financial fell 6.7 per cent to 210,700 yen, Sumitomo Mitsui Financial lost 3.3 per cent to 296,000 yen and Mitsubishi Financial Group declined 5.4 per cent to 435 yen.Honda dropped 1.9 per cent to 1,653 yen.

HONG KONG: Share prices closed 2.5 per centhigher.

The benchmark Hang Seng Index rose 336.31 points at 13,846.09, after trading between 13,656.92 and 13,875.14. Turnover was light at 37.34 billion Hong Kong dollars (4.79 billion US).

Heavyweight HSBC rose 3.6 per cent to 81.40 Hong Kong dollars and China Mobile jumped 3.1 per cent to 75.50 dollars.Ping An rose 5.7 per cent to $33.30 and China Life rose 5.9 per cent to $21.60.

SYDNEY: Australian share prices closed down 1.2 per cent.

The benchmark S&P/ASX200 lost 42.5 points to 3,489.9, while the broader All Ordinaries was off 40.9 points at 3,427.2.

A total of 1.2 billion shares worth $3.75 billion (US$2.4 billion) was traded.

BHP Billiton closed down 4.9 per cent at $26.15, while Rio Tinto finished down 1.5 per cent at 32.00.

SINGAPORE: Shares closed 0.94 per cent higher.

The blue-chip Straits Times Index closed up 15.49 points at 1,659.17.

Yanlord Land Group, a Chinese luxury residential builder rose seven cents to 0.82 Singapore dollars.

KUALA LUMPUR: Malaysian shares closed 1.0 per cent lower.

The Kuala Lumpur Composite Index lost 8.58 points to close at 838.28.

KNM dropped 13.3 per cent to 0.43 ringgit while telecommunications giant TMI fell 6 per cent to 3.12 ringgit.

Public Bank increased by 0.6 per cent to 8.25 ringgit and Petronas Gas rose 1.6 per centto 9.80 ringgit.

JAKARTA: Indonesian shares ended 0.3 per cent lower.

The Jakarta Composite Index closed 2.98 points lower at 1,202.34.

Top decliners included coal miner Bumi Resources, which fell 6.2 per centto 760 rupiah.

WELLINGTON: New Zealand shares closed 0.88 per cent lower.

The benchmark NZX-50 index fell 23.96 points to 2,706.72.

Contact Energy was down 14 cents at $6.85 and market leader Telecom was down seven cents at 2.32.

Stock exchange operator NZX dropped 15 cents to $5.35 and casino operator Sky City fell four cents to 2.96.

MUMBAI: Indian shares fell 2.87 per cent as investors locked in gains ahead of an economic stimulus package expected from India’s central bank on Saturday.

The benchmark 30-share Sensex fell 264.55 points to 8,965.2.—AFP