- POSTED: 26 Dec 2013 18:02
- UPDATED: 26 Dec 2013 18:54
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Asian shares were mixed Thursday with Tokyo extending its gains following a record close on Wall Street in pre-holiday trade, while the dollar rose to a five-year high against the yen.
HONG KONG: Asian shares were mixed on Thursday with Tokyo extending its gains following a record close on Wall Street in pre-holiday trade, while the dollar rose to a five-year high against the yen.
The greenback rose to 104.85 yen in early trade -- its highest since October 2008 -- before settling at 104.71 yen, compared with 104.39 yen Wednesday in Tokyo.
Tokyo closed up 1.03 per cent, or 164.45 points, at 16,174.44, the best finish since November 2007. Seoul slid 0.11 per cent, or 2.29 points, to 1,999.30.
Financial markets in Hong Kong, Indonesia, Australia and New Zealand were closed for a public holiday.
Chinese shares ended down more than one per cent on Thursday as the absence of a further liquidity injection by the central bank hurt sentiment, dealers said.
The benchmark Shanghai Composite Index dropped 1.58 per cent, or 33.25 points, to 2,073.10 on turnover of 66.8 billion yuan (US$11.0 billion).
Worries over a liquidity shortage resurfaced as the People's Bank of China did not conduct its regular open-market operations on Thursday to inject funds into the interbank market, analysts said.
"Fundamentally, it highlights investor pessimism about the stock market. They want to sell stocks before liquidity conditions worsen again," Everbright Securities analyst Zeng Xianzhao told Dow Jones Newswires.
Coal miners were lower on reports that China may levy a coal resource tax on producers from early January.
Shanxi Lu'an Environmental Energy Development dropped 4.93 per cent to 10.22 yuan, while Yangquan Coal Industry Group fell 4.47 per cent to 7.05 yuan.
Automakers fell on worries that more cities might impose restrictions on car purchases to ease air pollution and traffic congestion.
Liaoning SG Automotive lost 5.04 per cent to 4.33 yuan while SAIC Motor fell 3.11 per cent to 13.38 yuan.
In other markets, Manila gained 0.4 per cent, or 23.44 points, to 5,878.32, Taipei rose 0.21 per cent, or 18.13 points, to 8,485.89, and Kuala Lumpur jumped 0.47 per cent, or 8.61 points, to 1,846.49.
Mumbai rose 0.20 per cent or 41.88 points to 21,074.59 points, Singapore closed up 0.23 per cent, or 7.07 points, at 3,134.36, while Bangkok lost 1.80 per cent or 23.99 points to 1,308.46 after violent political clashes in the Thai capital.
On Tuesday, US stocks closed at a new all-time high before the Christmas break, following solid reports on durable goods and new home sales.
The news followed a recent run of figures showing a pick-up in the US economy and the Federal Reserve announcement that it would from next month reduce its stimulus programme by US$10 billion to US$75 billion a month.
The euro bought US$1.3679 and 143.27 yen against US$1.3668 and 142.71 yen on Wednesday in Tokyo.
In oil markets, New York's main contract, West Texas Intermediate for February delivery, was up 13 cents at US$99.35 in afternoon trade while Brent North Sea crude for February gained 17 cents to US$112.07.
Gold fetched US$1,205.50 at 1040 GMT compared with US$1,195.04 late Monday.