HONG KONG, March 26: Asian markets were mixed on Monday as lingering concerns about the Chinese economy cancelled out a positive lead from Wall Street and bargain hunting.
Tokyo was flat, edging up 0.07 per cent, or 6.77 points to 10,018.24, Sydney ended 0.18 per cent, or 7.6 points, lower at 4,262.8 and Seoul fell 0.38 per cent, or 7.64 points, to 2,019.19.
Hong Kong ended virtually unchanged, nudging just 0.06 points up to 20,886.86 while Shanghai was also flat, nudging 1.06 points higher to 2,350.6.
Traders were given few buying incentives save Friday's positive close on Wall Street, where the Dow Jones index capped a three-session losing streak despite weak US housing data.
End-of-the-quarter “window-dressing” added to selling pressure, while “there are still plenty of factors to dent risk appetite over coming days, not least of which is the gyrations in oil prices”, Credit Agricole said in a note to clients, according to Dow Jones Newswires.
The losses added to last week's falls caused by a combination of data from China indicating a slowdown in the world's number two economy, weaker-than-forecast US housing figures and a bout of profit-taking after a strong rally at the start of the year.
Australia's Qantas ended 2.02 per cent higher after it announced plans to launch a joint-venture budget carrier for Asia with China Airlines.
Jetstar Hong Kong will launch next year and fly short-haul routes, including in China, Japan, South Korea and Southeast Asia, the firms said in a statement as they try to tap the huge Chinese market.
Singapore slipped 0.52 per cent, or 15.58 points, to 2,974.5. DBS Bank fell 0.85 per cent to Sg$14.06 while oil rig maker Keppel Corp was down 0.65 per cent at Sg$10.76.
Taipei fell 1.35 per cent, or 108.99 points, to 7,967.62. Taiwan Semiconductor Manufacturing Co fell 2.11 per cent to Tw$83.6 while leading smart-phone maker HTC was 0.64 per cent higher at Tw$633.
Manila closed 0.25 per cent, or 12.81 points, lower at 5,029.63. Alliance Global Group was down 1.82 per cent at 12.9 pesos while Philippine Long Distance Telephone bucked the trend to rise 2.61 per cent to 2,668 pesos.
Wellington gained 0.66 per cent, or 22.61 points, to 3,471.92. Telecom rose 1.1 per cent to NZ$2.4 while Fletcher Building added 1 per cent to NZ$6.87 and Fisher & Paykel Healthcare gained 0.9 per cent to NZ$2.27.
Kuala Lumpur ended down 0.18 percent, or 2.85 points, at 1,582.98. Utility Tenaga Nasional fell 2.69 per cent to 6.5 ringgit, while budget carrier AirAsia inched down 3.62 per cent to 3.46 ringgit. Gaming giant Genting gained 0.36 per cent to 11.04 ringgit.
Jakarta fell 0.24 per cent, or 9.85 points, to 4,031.71. Car maker Astra fell 0.8 per cent to 71,600 rupiah and Bank Mandiri slid 1.5 per cent.
Bangkok closed 0.51 per cent, or 6.12 points, lower at 1,188.32. PTT dropped 0.29 per cent to 348 baht, while Banpu gained 0.66 per cent to 612 baht.
Mumbai shares slid 308.96 points or 1.78 per cent to 17,052.78. India's Tata Power ended down 3.77 per cent at 95.8 rupees while the largest mobile phone firm Bharti Airtel fell 2.32 per cent to 327.9.—AFP