Most Asian stocks were slightly higher Thursday as
fewer investors participated in the market ahead of the New Year
holiday, while Japan's Nikkei index fell on the last trading day of
the year due to a firming yen.
The Japanese benchmark Nikkei 225 stock average fell 128.73
points, or 1.2 percent, to finish at 10,215.81 in the morning
session. Investors sold export-linked stocks as the yen gained
ground against the dollar.
A strong yen hurts Japanese exporters as it cuts the value of
thei repatriated profits and makes their products less competitive
abroad.
Shares in Toyota Motor Corp. fell 0.9 percent to 3,220 yen. Honda
Motor Co. lost 1.2 percent to 3,215 yen. Sony Corp. was down 1.4
percent at 2,914 yen on Thursday.
The Japanese stock market will be closed on Friday. It will
resumetrading on Jan. 4.
Apart from the Nikkei, China's Shanghai Composite Index declined
0.3 percent to 2,744.52.
Elsewhere, South Korea's Kospi edged up just 0.41 points to
2,043.90. Hong Kong's Hang Seng index rose 0.5 percent to 23,072.43.
Shares in Australia, Malaysia, Singapore and Taiwan were all highr.
In New York Wednesday, the Dow Jones Industrial average added
9.84 points, or 0.1 percent, to 11,585.38. The S&P 500 rose 1.27, or
0.1 percent, to 1,259.78. The technology-focused Nasdaq gained 4.05,
or nearly 0.2 percent, to 2,666.93.
Across Asia, investors stayed on the sidelines in light trading
ahead of the New Year holiday and also in the absence of fresh
market leads.
In currencies, the dollar fell to 81.34 yen in Tokyo Thursday
from 81.63 yen in New York late Wednesday. The euro rose to $1.3248
from $1.3221.
Benchmark crude for February delivery edged up six cents to
$91.18 a barrel on th New York Mercantile Exchange.
