Asian shares mixed, Nikkei ends flat

Written By Unknown on Kamis, 17 Januari 2013 | 17.52

ASIAN markets were mixed on Thursday, with Tokyo ending flat after a seesaw session that saw parts suppliers hit after global aviation agencies grounded Boeing's Dreamliner.

The euro and US dollar resumed their upward trend against the yen after Japan's economy minister Akira Amari distanced himself from his earlier reported comments, that too sharp a fall in the yen could be bad.

Tokyo edged up 9.20 points to 10,609.64, after heavy losses in the previous session on the back of a strengthening yen.

Seoul lost 0.16 per cent, or 3.18 points, to 1974.27 but Sydney added 0.38 per cent, or 18.2 points, to 4756.6.

Shanghai fell 1.06 per cent, or 24.59 points, to 2284.91, while Hong Kong was flat in the afternoon.

The yen had strengthened after Amari on Tuesday was quoted as saying that the currency's rapid decline in recent weeks was putting Japan's fragile recovery at risk by making imports more expensive.

The rise in the currency hit the Nikkei, which tumbled Wednesday after hitting a 32-month high earlier in the week.

But the unit eased back on Thursday after Amari said his comments had been misinterpreted.

In afternoon trade the dollar bought 88.55 yen, up from 88.37 yen in New York late Wednesday, while the euro rose to 117.76 yen from 117.42 yen.

The single currency bought $US1.3300 ($A1.26) Thursday, from $US1.3286.

Eyes are now on a Bank of Japan rate-setting meeting next week to see if it follows a monetary policy line closer to the new government, which is calling for more loosening.

Shares in two of the country's biggest airlines ended with mixed fortunes after suffering a sell-off in the wake of their announcement that they would ground their Boeing 787 Dreamliner fleets.

The news from All Nippon Airways (ANA) and Japan Airlines (JAL) came after an ANA plane was forced to make an emergency landing Wednesday owing to problems with a battery.

The incident is the latest in just over a week to hit the aircraft, including engine problems and fuel leaks.

US, Indian and Chilean authorities later ordered airlines to stop flying the troubled aeroplanes, meaning that 39 out of 50 Dreamliners in operation worldwide have now been grounded.

Japanese authorities said the grounding would continue indefinitely until all batteries were confirmed to be safe.

However JAL finished the day 0.27 per cent higher -- a reversal from the 1.0 per cent loss in mid-session -- while ANA ended 0.54 per cent off after slipping more than one per cent earlier.

Component suppliers fared worse but still pared their morning losses. Carbon fibre maker Toray Industries lost 1.96 per cent and battery maker GS Yuasa tumbled 4.98 per cent.

Wall Street provided an anaemic lead, with the Dow falling 0.17 per cent, the S&P 500 flat and the Nasdaq up 0.22 per cent.

Dealers are also eyeing Friday's release of Chinese growth data, with expectations high that it will show a further pick-up in the economy as it emerges from a drawn-out slumber.

Oil prices slipped. New York's main contract, light sweet crude for delivery in February, shed 23 cents to $US94.01 a barrel. Brent North Sea crude for March delivery fell 83 cents to $US109.78.

Gold was at $US1679.40 at 0710 GMT (1810 AEDT) compared with $US1678.80 late on Wednesday.

In other markets:

-- Taipei lost 1.09 per cent, or 83.79 points, to 7616.64.

Leading smartphone maker HTC fell 3.29 per cent to Tw$279.5 while Taiwan Semiconductor Manufacturing Co was 0.1 per cent higher at Tw$99.3.

-- Wellington rose 0.66 per cent, or 27.58 points, to 4196.81.

Fletcher Building was up 2.47 per cent at $NZ9.11 and Telecom gained 0.85 per cent to $NZ2.37 while Air New Zealand was down 1.17 per cent at $NZ1.27.


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