U.S. News

Asian Markets End Mixed in Quiet Holiday Trading


Asian markets finished mixed in the Good Friday session with Japan closing almost flat. But South Korea shares managed to squeeze out a gain for a third straight record. Most markets in Asia were closed for the holiday.

Tokyo's Nikkei 225 Average closed nearly flat as investors held back ahead of U.S. payroll data keeping the thin holiday market in check, while retailer Seven &
I Holdings
fell on a media report it will miss its profit target. Oki Electric Industry surged about 6% following a news report that highlighted Oki's development of technology bonding light-emitting diodes (LEDs) with other materials to enable thinner LED displays for cellphones and TVs. Shares of Nintendo rose after the Nikkei business daily said the video game maker was likely to post a record group recurring profit for the business year just ended.

South Korea's Kospi Index hit a record for a third straight session, as Korean Air took off to an all time high after oil prices again dropped, while shipbuilder Hyundai Heavy also hit a peak on the sector's profit outlook. But gains were capped by auto makers such as Hyundai Motor, which fell on caution that China's move to curb bank lending could see the domestic currency track a higher Chinese yuan and slow economic growth in South Korea's biggest export market.

Chinese shares edged higher after the central bank announced a 0.5% point hike in bank reserve requirements late on Thursday.

Markets in Australia, Hong Kong, Singapore, Taiwan, the U.K. and the U.S. are closed for the Good Friday holiday.

Related Tags